Alphabet Inc. (NASDAQ:GOOGL) is Zurcher Kantonalbank Zurich Cantonalbank’s 7th Largest Position

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,385,621 shares of the information services provider’s stock after buying an additional 364,348 shares during the period. Alphabet makes up 2.2% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 7th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alphabet were worth $727,355,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GOOGL. FORA Capital LLC boosted its holdings in Alphabet by 222.5% in the 3rd quarter. FORA Capital LLC now owns 22,500 shares of the information services provider’s stock valued at $3,732,000 after purchasing an additional 15,523 shares during the period. First Commonwealth Financial Corp PA boosted its holdings in Alphabet by 0.7% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 31,900 shares of the information services provider’s stock valued at $5,291,000 after purchasing an additional 218 shares during the period. RPg Family Wealth Advisory LLC boosted its holdings in Alphabet by 42.6% in the 3rd quarter. RPg Family Wealth Advisory LLC now owns 60,544 shares of the information services provider’s stock valued at $10,041,000 after purchasing an additional 18,096 shares during the period. CreativeOne Wealth LLC boosted its holdings in Alphabet by 47.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 80,095 shares of the information services provider’s stock valued at $13,284,000 after purchasing an additional 25,594 shares during the period. Finally, BNP Paribas boosted its holdings in Alphabet by 1.1% in the 3rd quarter. BNP Paribas now owns 154,188 shares of the information services provider’s stock valued at $25,486,000 after purchasing an additional 1,670 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 5.6 %

Shares of Alphabet stock opened at $185.17 on Wednesday. The firm’s 50 day moving average price is $169.70 and its 200-day moving average price is $170.21. 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 52-week low of $129.68 and a 52-week high of $191.75. The company has a market cap of $2.27 trillion, a P/E ratio of 24.56, a PEG ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the business posted $1.55 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared 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 0.43%. Alphabet’s payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,923 shares of company stock worth $34,244,676 in the last ninety days. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on GOOGL shares. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein lifted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.03.

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.