Lifestyle Asset Management Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Lifestyle Asset Management Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,605 shares of the information services provider’s stock after purchasing an additional 605 shares during the quarter. Alphabet comprises 1.0% of Lifestyle Asset Management Inc.’s portfolio, making the stock its 17th biggest holding. Lifestyle Asset Management Inc.’s holdings in Alphabet were worth $1,759,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its position in Alphabet by 70.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after acquiring an additional 41,880 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Alphabet by 3.6% during the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares during the period. Portland Global Advisors LLC boosted its stake in shares of Alphabet by 4.2% during the 1st quarter. Portland Global Advisors LLC now owns 4,995 shares of the information services provider’s stock worth $754,000 after purchasing an additional 200 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Alphabet by 5.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 6,576,002 shares of the information services provider’s stock valued at $992,516,000 after purchasing an additional 337,795 shares during the last quarter. Finally, Interchange Capital Partners LLC raised its position in Alphabet by 3.1% in the 1st quarter. Interchange Capital Partners LLC now owns 13,104 shares of the information services provider’s stock worth $1,975,000 after purchasing an additional 395 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,295 shares of company stock valued at $30,698,791 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Down 1.2 %

Shares of NASDAQ:GOOGL opened at $175.98 on Thursday. The business’s 50-day moving average is $167.23 and its 200 day moving average is $170.40. 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 market capitalization of $2.15 trillion, a P/E ratio of 23.34, a P/E/G ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) 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 quarter in the prior year, the company posted $1.55 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s payout ratio is currently 10.61%.

Analyst Ratings Changes

Several research analysts have issued reports on GOOGL shares. Rosenblatt Securities restated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Truist Financial raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group decreased their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Evercore ISI boosted their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. 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 stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.