Canton Hathaway LLC Has $1.19 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Canton Hathaway LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,181 shares of the information services provider’s stock after acquiring an additional 820 shares during the period. Canton Hathaway LLC’s holdings in Alphabet were worth $1,191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New Hampshire Trust boosted its position in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares in the last quarter. Schear Investment Advisers LLC raised its stake in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC boosted its holdings in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares in the last quarter. abrdn plc grew its position in Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. increased its holdings in Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 43,999 shares of the company’s stock, valued at $7,280,514.53. The trade was a 27.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock valued at $27,803,730 in the last quarter. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JMP Securities increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Up 1.2 %

Shares of GOOGL stock opened at $174.71 on Monday. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $169.51 and a 200-day moving average of $170.20. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.