Tranquility Partners LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Tranquility Partners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,470 shares of the information services provider’s stock after purchasing an additional 153 shares during the quarter. Alphabet accounts for 1.3% of Tranquility Partners LLC’s holdings, making the stock its 18th largest holding. Tranquility Partners LLC’s holdings in Alphabet were worth $3,715,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Whalen Wealth Management Inc. lifted its holdings in shares of Alphabet by 22.7% in the 3rd quarter. Whalen Wealth Management Inc. now owns 1,386 shares of the information services provider’s stock worth $230,000 after acquiring an additional 256 shares during the last quarter. Lindenwold Advisors INC raised its position in Alphabet by 0.9% in the third quarter. Lindenwold Advisors INC now owns 29,649 shares of the information services provider’s stock valued at $4,917,000 after purchasing an additional 253 shares during the period. Citizens Business Bank lifted its stake in Alphabet by 0.3% during the third quarter. Citizens Business Bank now owns 59,475 shares of the information services provider’s stock worth $10,833,000 after purchasing an additional 158 shares in the last quarter. Joseph Group Capital Management boosted its position in shares of Alphabet by 23.1% during the third quarter. Joseph Group Capital Management now owns 22,311 shares of the information services provider’s stock worth $3,700,000 after buying an additional 4,181 shares during the period. Finally, Nixon Peabody Trust Co. grew its stake in shares of Alphabet by 2.1% in the third quarter. Nixon Peabody Trust Co. now owns 98,783 shares of the information services provider’s stock valued at $16,383,000 after buying an additional 1,995 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $171.49 on Tuesday. The company’s 50 day simple moving average is $168.47 and its 200-day simple moving average is $170.31. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The firm has a market cap of $2.10 trillion, a PE ratio of 22.74, a price-to-earnings-growth 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 (NASDAQ:GOOGL) last issued 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 net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the firm posted $1.55 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed 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. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. Sanford C. Bernstein increased their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Bank of America raised their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, JMP Securities boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Seven equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. This represents a 27.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,124 shares of company stock valued at $31,374,030. 11.55% of the stock is owned by company insiders.

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.