Dynamic Technology Lab Private Ltd Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,552 shares of the information services provider’s stock, valued at approximately $1,584,000.

Other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC raised its position in shares of Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Bank of New York Mellon Corp boosted its holdings in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after buying an additional 523,416 shares in the last quarter. American Century Companies Inc. raised its holdings in Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after acquiring an additional 418,204 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Alphabet by 9.1% in the second quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock valued at $4,237,426,000 after acquiring an additional 1,949,476 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GOOGL. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Loop Capital boosted their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

Alphabet Price Performance

GOOGL opened at $174.71 on Monday. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.24 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 12-month low of $129.68 and a 12-month high of $191.75. The business’s fifty day simple moving average is $169.51 and its 200-day simple moving average is $170.20.

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 net margin of 27.74% and a return on equity of 31.66%. 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 firm posted $1.55 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued 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 is currently 10.61%.

Alphabet 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.