Paragon Advisors LLC Has $4.08 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Paragon Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,611 shares of the information services provider’s stock after buying an additional 473 shares during the period. Alphabet accounts for about 1.3% of Paragon Advisors LLC’s portfolio, making the stock its 22nd largest holding. Paragon Advisors LLC’s holdings in Alphabet were worth $4,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 75.0% during the 2nd 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 during the last quarter. Kings Path Partners LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $41,000. Quarry LP acquired a new position in shares of Alphabet during the 2nd quarter worth about $53,000. Finally, Summit Securities Group LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOGL stock opened at $168.95 on Friday. The company has a 50 day simple moving average of $168.47 and a 200 day simple moving average of $170.33. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. 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 (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 analysts’ consensus estimates of $1.83 by $0.29. The business 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 prior year, the company earned $1.55 EPS. Research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’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 transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,673,866 in the last three months. 11.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JMP Securities lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. DA Davidson initiated coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Finally, Roth Mkm lifted their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. 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.com, the company presently 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.