River Street Advisors LLC Acquires 244 Shares of Alphabet Inc. (NASDAQ:GOOGL)

River Street Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,243 shares of the information services provider’s stock after purchasing an additional 244 shares during the quarter. Alphabet accounts for approximately 1.4% of River Street Advisors LLC’s investment portfolio, making the stock its 17th largest holding. River Street Advisors LLC’s holdings in Alphabet were worth $2,528,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in Alphabet during the 2nd quarter valued at $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the 2nd quarter worth $41,000. Quarry LP bought a new position in shares of Alphabet during the 2nd quarter worth $53,000. Finally, Summit Securities Group LLC purchased a new position in shares of Alphabet during the second quarter valued at $55,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.2 %

NASDAQ:GOOGL opened at $168.95 on Friday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a market cap of $2.07 trillion, a P/E ratio of 22.41, a P/E/G ratio of 1.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50-day simple moving average of $168.47 and a 200-day simple moving average of $170.33.

Alphabet (NASDAQ:GOOGL) last announced its quarterly 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 for the quarter, compared to analyst estimates 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 firm posted $1.55 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Analysts Set New Price Targets

Several brokerages have issued reports on GOOGL. Morgan Stanley increased their target price on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Finally, Tigress Financial boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Seven 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,795 shares of company stock worth $34,673,866. Insiders own 11.55% of the company’s stock.

About Alphabet

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.