Sunburst Financial Group LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Sunburst Financial Group LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,868 shares of the information services provider’s stock after buying an additional 325 shares during the period. Sunburst Financial Group LLC’s holdings in Alphabet were worth $1,139,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC increased its stake in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Capital Research Global Investors increased its stake in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after purchasing an additional 4,662,809 shares in the last quarter. Finally, Wulff Hansen & CO. increased its stake in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. KeyCorp raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,752 shares of company stock valued at $40,156,829 over the last three months. 11.55% of the stock is owned by company insiders.

Alphabet Trading Up 1.1 %

Shares of GOOGL opened at $180.35 on Tuesday. The company’s fifty day moving average is $163.54 and its 200 day moving average is $169.74. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.21 trillion, a PE ratio of 23.92, a P/E/G ratio of 1.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.