Alphabet Inc. (NASDAQ:GOOGL) is Norris Perne & French LLP MI’s 2nd Largest Position

Norris Perne & French LLP MI lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 418,256 shares of the information services provider’s stock after buying an additional 4,255 shares during the period. Alphabet accounts for approximately 4.8% of Norris Perne & French LLP MI’s portfolio, making the stock its 2nd largest holding. Norris Perne & French LLP MI’s holdings in Alphabet were worth $69,368,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GOOGL. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Alphabet by 70.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after acquiring an additional 41,880 shares during the period. Quent Capital LLC increased its position in Alphabet by 3.6% during the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares during the last quarter. CV Advisors LLC raised its stake in Alphabet by 37.4% during the first quarter. CV Advisors LLC now owns 50,829 shares of the information services provider’s stock worth $7,672,000 after purchasing an additional 13,833 shares during the period. Embree Financial Group boosted its holdings in shares of Alphabet by 3.0% in the 1st quarter. Embree Financial Group now owns 66,561 shares of the information services provider’s stock valued at $10,046,000 after purchasing an additional 1,925 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Alphabet by 3.6% during the 1st quarter. Signaturefd LLC now owns 207,795 shares of the information services provider’s stock worth $31,362,000 after buying an additional 7,179 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 207,495 shares of company stock valued at $34,586,641 in the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $178.88 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $164.37 and its two-hundred day moving average price is $169.98. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 23.72, a P/E/G ratio of 1.29 and a beta of 1.03.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOGL. Morgan Stanley lifted their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Bank of America increased their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Sanford C. Bernstein raised their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.