Moors & Cabot Inc. Has $23.66 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Moors & Cabot Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 142,657 shares of the information services provider’s stock after selling 1,109 shares during the period. Alphabet comprises 1.2% of Moors & Cabot Inc.’s investment portfolio, making the stock its 9th biggest position. Moors & Cabot Inc.’s holdings in Alphabet were worth $23,660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. LMR Partners LLP bought a new position in Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter valued at $41,000. Finally, Quarry LP bought a new position in Alphabet in the 2nd quarter valued at $53,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 1.8 %

Shares of Alphabet stock opened at $174.37 on Thursday. 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 company has a 50-day simple moving average of $169.10 and a two-hundred day simple moving average of $170.29. Alphabet Inc. has a 52-week low of $128.25 and a 52-week high of $191.75. The stock has a market capitalization of $2.13 trillion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the firm earned $1.55 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,802 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was 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 $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,624 shares of company stock worth $27,803,730 over the last quarter. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America lifted their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report 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 research report on Wednesday, October 30th. Tigress Financial lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven equities research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.