First City Capital Management Inc. Acquires 473 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First City Capital Management Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,643 shares of the information services provider’s stock after purchasing an additional 473 shares during the period. First City Capital Management Inc.’s holdings in Alphabet were worth $1,102,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Princeton Capital Management LLC lifted its stake in shares of Alphabet by 2.5% in the 3rd quarter. Princeton Capital Management LLC now owns 96,294 shares of the information services provider’s stock valued at $15,970,000 after acquiring an additional 2,358 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Alphabet by 23.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 163,970 shares of the information services provider’s stock valued at $27,194,000 after buying an additional 31,482 shares during the last quarter. Wrapmanager Inc. increased its position in shares of Alphabet by 17.1% during the 3rd quarter. Wrapmanager Inc. now owns 18,261 shares of the information services provider’s stock valued at $3,029,000 after purchasing an additional 2,670 shares during the last quarter. BIP Wealth LLC raised its position in Alphabet by 5.1% in the third quarter. BIP Wealth LLC now owns 7,302 shares of the information services provider’s stock worth $1,211,000 after acquiring an additional 354 shares during the period. Finally, Prospera Financial Services Inc grew its holdings in Alphabet by 19.3% during the 3rd quarter. Prospera Financial Services Inc now owns 167,262 shares of the information services provider’s stock valued at $27,746,000 after buying an additional 27,026 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,802 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the transaction, the insider now directly owns 43,999 shares of the company’s stock, valued at $7,280,514.53. This trade represents a 27.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,624 shares of company stock valued at $27,803,730. 11.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on GOOGL. DA Davidson assumed coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein boosted their price target on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Trading Down 0.1 %

Shares of Alphabet stock opened at $171.34 on Wednesday. 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 $2.10 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.22 and a beta of 1.01. The stock’s 50 day simple moving average is $168.84 and its 200-day simple moving average is $170.26. 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 posted its 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.