Clarity Financial LLC Has $942,000 Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Clarity Financial LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,678 shares of the information services provider’s stock after acquiring an additional 133 shares during the quarter. Clarity Financial LLC’s holdings in Alphabet were worth $942,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Amalgamated Bank grew its position in shares of Alphabet by 1.0% during the 3rd quarter. Amalgamated Bank now owns 1,274,850 shares of the information services provider’s stock worth $211,434,000 after purchasing an additional 13,050 shares in the last quarter. United Advisor Group LLC boosted its stake in shares of Alphabet by 150.2% in the third quarter. United Advisor Group LLC now owns 34,908 shares of the information services provider’s stock valued at $5,790,000 after buying an additional 20,955 shares during the period. Stoneridge Investment Partners LLC grew its position in Alphabet by 9.6% during the third quarter. Stoneridge Investment Partners LLC now owns 37,511 shares of the information services provider’s stock worth $6,221,000 after buying an additional 3,300 shares in the last quarter. James J. Burns & Company LLC increased its stake in Alphabet by 9.0% during the 3rd quarter. James J. Burns & Company LLC now owns 22,685 shares of the information services provider’s stock worth $3,763,000 after acquiring an additional 1,866 shares during the period. Finally, FSM Wealth Advisors LLC increased its stake in Alphabet by 1.5% during the 3rd quarter. FSM Wealth Advisors LLC now owns 14,954 shares of the information services provider’s stock worth $2,480,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $172.49 on Monday. The firm has a market cap of $2.11 trillion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $165.61 and a 200-day moving average price of $170.22. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75.

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 analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during 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 period in the previous year, the company posted $1.55 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America increased their price objective on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Finally, Citigroup lifted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Seven equities research 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 company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price 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.