Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 62,452 shares of the information services provider’s stock after buying an additional 2,953 shares during the quarter. Alphabet accounts for approximately 2.0% of Princeton Global Asset Management LLC’s portfolio, making the stock its 12th biggest position. Princeton Global Asset Management LLC’s holdings in Alphabet were worth $10,358,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Argonautica Private Wealth Management Inc. boosted its stake in shares of Alphabet by 0.3% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 72,700 shares of the information services provider’s stock valued at $12,057,000 after buying an additional 244 shares during the period. Stevens Capital Partners lifted its stake in shares of Alphabet by 34.7% in the 3rd quarter. Stevens Capital Partners now owns 1,544 shares of the information services provider’s stock worth $256,000 after acquiring an additional 398 shares during the period. Arlington Trust Co LLC raised its holdings in Alphabet by 0.7% during the third quarter. Arlington Trust Co LLC now owns 25,811 shares of the information services provider’s stock worth $4,281,000 after purchasing an additional 167 shares in the last quarter. Fullcircle Wealth LLC grew its position in Alphabet by 0.6% during the third quarter. Fullcircle Wealth LLC now owns 12,307 shares of the information services provider’s stock worth $2,052,000 after buying an additional 69 shares during the period. Finally, Ceredex Value Advisors LLC grew its position in Alphabet by 44.6% during the third quarter. Ceredex Value Advisors LLC now owns 235,214 shares of the information services provider’s stock worth $39,010,000 after buying an additional 72,536 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GOOGL shares. DA Davidson started coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Guggenheim raised their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

Shares of GOOGL stock opened at $172.49 on Friday. The firm has a market cap of $2.11 trillion, a P/E ratio of 22.88, 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 current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The firm has a fifty day moving average of $165.18 and a two-hundred day moving average of $170.08.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s 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 completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is owned by corporate insiders.

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.