StoneX Group Inc. Acquires 6,372 Shares of Alphabet Inc. (NASDAQ:GOOGL)

StoneX Group Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 20.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,725 shares of the information services provider’s stock after purchasing an additional 6,372 shares during the period. StoneX Group Inc.’s holdings in Alphabet were worth $6,257,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. LMR Partners LLP acquired a new stake in Alphabet in the third quarter valued at approximately $32,000. Kings Path Partners LLC purchased a new position in Alphabet in the second quarter worth $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter worth $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet during the second quarter worth $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GOOGL shares. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of Alphabet 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 note on Thursday, September 26th. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Up 1.2 %

GOOGL opened at $174.71 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75. The company has a market cap of $2.14 trillion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The company has a 50-day moving average price of $169.51 and a 200 day moving average price of $170.24.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the business posted $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,624 shares of company stock valued at $27,803,730. 11.55% of the stock is currently owned by 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.