Court Place Advisors LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Court Place Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,587 shares of the information services provider’s stock after purchasing an additional 91 shares during the quarter. Alphabet makes up about 0.9% of Court Place Advisors LLC’s holdings, making the stock its 26th biggest position. Court Place Advisors LLC’s holdings in Alphabet were worth $3,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Veracity Capital LLC raised its holdings in Alphabet by 7.2% during the first quarter. Veracity Capital LLC now owns 19,902 shares of the information services provider’s stock worth $3,004,000 after purchasing an additional 1,345 shares in the last quarter. Teamwork Financial Advisors LLC raised its holdings in Alphabet by 11.0% during the first quarter. Teamwork Financial Advisors LLC now owns 98,044 shares of the information services provider’s stock worth $14,798,000 after purchasing an additional 9,701 shares in the last quarter. GenTrust LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $755,000. Horizon Bancorp Inc. IN increased its holdings in shares of Alphabet by 4.1% in the 1st quarter. Horizon Bancorp Inc. IN now owns 2,193 shares of the information services provider’s stock valued at $331,000 after acquiring an additional 87 shares during the period. Finally, FORVIS Wealth Advisors LLC increased its holdings in shares of Alphabet by 32.9% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 99,625 shares of the information services provider’s stock valued at $15,036,000 after acquiring an additional 24,672 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOGL. Wolfe Research began coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Argus lifted their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. UBS Group lifted their target price on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, KeyCorp lifted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,052 shares of company stock valued at $38,424,448 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Up 4.0 %

NASDAQ GOOGL opened at $176.51 on Thursday. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The company has a 50-day moving average of $162.86 and a 200-day moving average of $169.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $2.17 trillion, a P/E ratio of 23.41, a P/E/G ratio of 1.20 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the company posted $1.55 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. 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.