Isthmus Partners LLC Takes $436,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Isthmus Partners LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,630 shares of the information services provider’s stock, valued at approximately $436,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Hampshire Trust raised its stake in shares of Alphabet by 2.7% during the 2nd 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 during the last quarter. Schear Investment Advisers LLC raised its holdings in Alphabet by 17.0% in the 3rd 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 raised its holdings in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. raised its holdings in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares during the last quarter. Finally, abrdn plc increased its holdings in shares of 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 buying an additional 611,233 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated 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 approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,923 shares of company stock valued at $34,244,676. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets reiterated 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. Morgan Stanley lifted their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $206.03.

Alphabet Price Performance

GOOGL opened at $185.17 on Wednesday. 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 50 day moving average of $169.70 and a two-hundred day moving average of $170.21. The company has a market cap of $2.27 trillion, a P/E ratio of 24.56, a P/E/G ratio of 1.24 and a beta of 1.01.

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, 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 the consensus estimate of $72.85 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) 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.