17 Capital Partners LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

17 Capital Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,985 shares of the information services provider’s stock after acquiring an additional 800 shares during the period. Alphabet makes up 2.2% of 17 Capital Partners LLC’s portfolio, making the stock its 4th biggest holding. 17 Capital Partners LLC’s holdings in Alphabet were worth $3,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc raised 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 valued at $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC acquired a new position in Alphabet in the 2nd quarter valued at approximately $41,000. Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $53,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.7 %

GOOGL opened at $164.76 on Friday. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. 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 firm has a 50 day simple moving average of $167.64 and a 200 day simple moving average of $170.35.

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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the company posted $1.55 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Roth Mkm raised their target price on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. BMO Capital Markets restated an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Tigress Financial upped their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target 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.