Mcrae Capital Management Inc. Acquires 22,812 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mcrae Capital Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 566.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,840 shares of the information services provider’s stock after acquiring an additional 22,812 shares during the quarter. Alphabet comprises about 0.9% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Mcrae Capital Management Inc.’s holdings in Alphabet were worth $4,451,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Goldstein Advisors LLC raised its stake in Alphabet by 10.4% during the third quarter. Goldstein Advisors LLC now owns 11,025 shares of the information services provider’s stock valued at $1,828,000 after buying an additional 1,043 shares during the last quarter. Smith Salley Wealth Management raised its position in shares of Alphabet by 9.2% in the 3rd quarter. Smith Salley Wealth Management now owns 69,670 shares of the information services provider’s stock worth $11,555,000 after purchasing an additional 5,870 shares during the last quarter. Bristlecone Advisors LLC raised its position in shares of Alphabet by 5.0% in the 3rd quarter. Bristlecone Advisors LLC now owns 122,345 shares of the information services provider’s stock worth $20,291,000 after purchasing an additional 5,880 shares during the last quarter. Modera Wealth Management LLC boosted its stake in Alphabet by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 92,758 shares of the information services provider’s stock worth $15,384,000 after purchasing an additional 842 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its position in Alphabet by 2.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 26,758 shares of the information services provider’s stock valued at $4,438,000 after purchasing an additional 680 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 242,552 shares of company stock worth $40,287,253 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Seven investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $180.75 on Friday. The company has a market cap of $2.23 trillion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock’s 50 day simple moving average is $162.86 and its two-hundred day simple moving average is $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.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the company posted $1.55 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 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 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 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.