Martin Investment Management LLC Has $13.42 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Martin Investment Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,885 shares of the information services provider’s stock after buying an additional 196 shares during the quarter. Alphabet makes up about 3.3% of Martin Investment Management LLC’s portfolio, making the stock its 10th biggest position. Martin Investment Management LLC’s holdings in Alphabet were worth $13,415,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. FSM Wealth Advisors LLC increased its stake in Alphabet by 1.5% in the 3rd quarter. FSM Wealth Advisors LLC now owns 14,954 shares of the information services provider’s stock valued at $2,480,000 after buying an additional 223 shares during the last quarter. Catalyst Capital Advisors LLC boosted its stake in shares of Alphabet by 62.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,480 shares of the information services provider’s stock worth $577,000 after buying an additional 1,337 shares during the last quarter. Impax Asset Management Group plc grew its holdings in shares of Alphabet by 6.8% in the 3rd quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock valued at $120,834,000 after acquiring an additional 46,677 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Alphabet by 2.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 9,217 shares of the information services provider’s stock valued at $1,528,000 after acquiring an additional 224 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. raised its holdings in Alphabet by 13.9% during the third quarter. Quintet Private Bank Europe S.A. now owns 587,363 shares of the information services provider’s stock worth $97,414,000 after acquiring an additional 71,651 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GOOGL. Tigress Financial raised their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Sanford C. Bernstein upped their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Down 1.8 %

GOOGL stock opened at $172.49 on Monday. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The business has a 50-day simple moving average of $165.61 and a 200 day simple moving average of $170.22. 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 company 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.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the company earned $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 of this dividend is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

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.