L & S Advisors Inc Has $9.65 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

L & S Advisors Inc lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 45.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,194 shares of the information services provider’s stock after selling 47,858 shares during the quarter. Alphabet comprises about 1.0% of L & S Advisors Inc’s investment portfolio, making the stock its 25th largest position. L & S Advisors Inc’s holdings in Alphabet were worth $9,651,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Blackhawk Capital Partners LLC. lifted its stake in shares of Alphabet by 9.5% during the third quarter. Blackhawk Capital Partners LLC. now owns 30,242 shares of the information services provider’s stock valued at $5,016,000 after acquiring an additional 2,612 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Alphabet by 4.4% during the third quarter. Pacer Advisors Inc. now owns 552,019 shares of the information services provider’s stock valued at $91,552,000 after acquiring an additional 23,333 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in shares of Alphabet by 29.5% during the third quarter. Thompson Siegel & Walmsley LLC now owns 5,189 shares of the information services provider’s stock valued at $861,000 after acquiring an additional 1,181 shares during the period. Makena Capital Management LLC lifted its stake in shares of Alphabet by 0.3% during the third quarter. Makena Capital Management LLC now owns 91,834 shares of the information services provider’s stock valued at $15,231,000 after acquiring an additional 314 shares during the period. Finally, German American Bancorp Inc. lifted its stake in shares of Alphabet by 6.9% during the third quarter. German American Bancorp Inc. now owns 201,974 shares of the information services provider’s stock valued at $33,497,000 after acquiring an additional 12,966 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Tigress Financial upped their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Roth Mkm upped their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, KeyCorp upped their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was 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 $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,624 shares of company stock worth $27,803,730. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $172.64 on Friday. The firm has a market cap of $2.11 trillion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. 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 1-year low of $129.68 and a 1-year high of $191.75. The business’s 50 day moving average is $169.30 and its 200-day moving average is $170.31.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping 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 analyst estimates of $72.85 billion. During the same quarter last year, the company earned $1.55 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current 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 $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. 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.