Chartwell Investment Partners LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Chartwell Investment Partners LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 30.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,082 shares of the information services provider’s stock after purchasing an additional 21,073 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Alphabet were worth $15,106,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Patten & Patten Inc. TN raised its holdings in shares of Alphabet by 0.4% in the 3rd quarter. Patten & Patten Inc. TN now owns 215,977 shares of the information services provider’s stock valued at $35,820,000 after purchasing an additional 847 shares in the last quarter. Paragon Capital Management LLC purchased a new stake in Alphabet during the third quarter worth $252,000. Kennebec Savings Bank bought a new stake in Alphabet during the 3rd quarter valued at $2,369,000. Ashton Thomas Securities LLC increased its holdings in shares of Alphabet by 16.8% in the 3rd quarter. Ashton Thomas Securities LLC now owns 20,594 shares of the information services provider’s stock valued at $3,416,000 after acquiring an additional 2,965 shares during the period. Finally, Arvest Investments Inc. raised its position in shares of Alphabet by 76.3% in the 3rd quarter. Arvest Investments Inc. now owns 10,844 shares of the information services provider’s stock worth $1,799,000 after acquiring an additional 4,693 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. KeyCorp lifted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Loop Capital lifted their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $164.76 on Monday. The business’s 50-day moving average price is $167.64 and its 200 day moving average price is $170.36. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The firm has a market cap of $2.02 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.19 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the business posted $1.55 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 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.