Tidemark LLC Buys 77 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Tidemark LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,143 shares of the information services provider’s stock after purchasing an additional 77 shares during the period. Tidemark LLC’s holdings in Alphabet were worth $521,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GOOGL. Cassaday & Co Wealth Management LLC boosted its holdings in shares of Alphabet by 3.1% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 22,305 shares of the information services provider’s stock worth $3,699,000 after acquiring an additional 672 shares in the last quarter. Drive Wealth Management LLC boosted its stake in Alphabet by 4.9% in the third quarter. Drive Wealth Management LLC now owns 23,968 shares of the information services provider’s stock worth $3,975,000 after purchasing an additional 1,118 shares in the last quarter. Capital City Trust Co. FL grew its holdings in shares of Alphabet by 1.0% during the third quarter. Capital City Trust Co. FL now owns 65,586 shares of the information services provider’s stock worth $10,877,000 after purchasing an additional 640 shares during the last quarter. Strengthening Families & Communities LLC increased its stake in shares of Alphabet by 3.2% in the third quarter. Strengthening Families & Communities LLC now owns 39,367 shares of the information services provider’s stock valued at $6,529,000 after buying an additional 1,239 shares in the last quarter. Finally, Mendel Capital Management LLC increased its stake in shares of Alphabet by 64.0% in the third quarter. Mendel Capital Management LLC now owns 2,412 shares of the information services provider’s stock valued at $400,000 after buying an additional 941 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GOOGL. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Loop Capital boosted their price objective on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Up 1.5 %

GOOGL opened at $171.49 on Tuesday. The stock has a market capitalization of $2.10 trillion, a P/E ratio of 22.74, a P/E/G ratio of 1.20 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm’s fifty day simple moving average is $168.47 and its 200 day simple moving average is $170.31.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared 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 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,124 shares of company stock worth $31,374,030 over the last ninety days. 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.