Hofer & Associates. Inc Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Hofer & Associates. Inc increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,712 shares of the information services provider’s stock after buying an additional 209 shares during the quarter. Hofer & Associates. Inc’s holdings in Alphabet were worth $781,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. MorganRosel Wealth Management LLC grew its stake in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares during the last quarter. Hengehold Capital Management LLC grew its stake in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc grew its stake 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 purchasing an additional 60 shares during the last quarter. First PREMIER Bank grew its stake in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the last quarter. Finally, MKT Advisors LLC grew its stake in shares of Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GOOGL. Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. TD Securities lifted their target price on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. UBS Group lifted their target price on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Jefferies Financial Group lifted their target price on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,244 shares of company stock worth $37,776,954 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.1 %

NASDAQ:GOOGL opened at $171.29 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. Alphabet Inc. has a one year low of $126.93 and a one year high of $191.75. The business’s 50-day simple moving average is $162.43 and its 200 day simple moving average is $169.01. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 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.