GFS Advisors LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

GFS Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 82,435.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,183 shares of the information services provider’s stock after acquiring an additional 136,018 shares during the period. Alphabet comprises about 4.8% of GFS Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. GFS Advisors LLC’s holdings in Alphabet were worth $22,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Fort Pitt Capital Group LLC raised its holdings in shares of Alphabet by 0.3% during the third quarter. Fort Pitt Capital Group LLC now owns 896,587 shares of the information services provider’s stock valued at $148,699,000 after buying an additional 3,059 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Alphabet by 1.8% in the third quarter. Janney Montgomery Scott LLC now owns 1,839,604 shares of the information services provider’s stock worth $305,098,000 after buying an additional 33,405 shares during the last quarter. Indie Asset Partners LLC grew its position in Alphabet by 19.1% during the 3rd quarter. Indie Asset Partners LLC now owns 5,775 shares of the information services provider’s stock worth $958,000 after purchasing an additional 926 shares in the last quarter. Prossimo Advisors LLC grew its position in Alphabet by 2.6% during the 3rd quarter. Prossimo Advisors LLC now owns 28,978 shares of the information services provider’s stock worth $4,806,000 after purchasing an additional 740 shares in the last quarter. Finally, Royal Harbor Partners LLC grew its position in Alphabet by 1.6% during the 3rd quarter. Royal Harbor Partners LLC now owns 18,881 shares of the information services provider’s stock worth $3,131,000 after purchasing an additional 303 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.8 %

Shares of GOOGL stock opened at $172.49 on Friday. 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 price of $165.18 and a 200-day moving average price of $170.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its 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. The company had revenue of $88.27 billion during 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 quarter in the prior year, the firm posted $1.55 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now directly owns 28,524 shares in the company, valued at $4,385,565. This represents a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,471,141 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOGL. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Tigress Financial upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. KeyCorp upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Finally, Loop Capital raised their price objective on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Profile

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.