James J. Burns & Company LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

James J. Burns & Company LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,685 shares of the information services provider’s stock after buying an additional 1,866 shares during the period. James J. Burns & Company LLC’s holdings in Alphabet were worth $3,763,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC lifted its stake in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares in the last quarter. Hengehold Capital Management LLC increased its stake in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. First PREMIER Bank boosted its stake in shares of Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the period. Finally, MKT Advisors LLC grew its holdings in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Roth Mkm raised their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,471,141 over the last three months. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $172.49 on Monday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.23 and a beta of 1.03. The company has a 50-day simple moving average of $165.61 and a 200-day simple moving average of $170.22. 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 posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the business earned $1.55 EPS. On average, analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

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

Alphabet Company 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.