Alphabet Inc. (NASDAQ:GOOGL) Holdings Boosted by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,943 shares of the information services provider’s stock after purchasing an additional 6,344 shares during the period. Alphabet makes up 1.5% of NorthCrest Asset Manangement LLC’s portfolio, making the stock its 7th biggest position. NorthCrest Asset Manangement LLC’s holdings in Alphabet were worth $49,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its position in Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after buying an additional 41,880 shares in the last quarter. Fortis Group Advisors LLC boosted its position in Alphabet by 552.0% during the first quarter. Fortis Group Advisors LLC now owns 39,276 shares of the information services provider’s stock valued at $5,928,000 after purchasing an additional 33,252 shares during the last quarter. JLB & Associates Inc. grew its stake in Alphabet by 7.2% in the first quarter. JLB & Associates Inc. now owns 15,801 shares of the information services provider’s stock valued at $2,406,000 after purchasing an additional 1,066 shares in the last quarter. Van ECK Associates Corp grew its stake in Alphabet by 13.5% in the first quarter. Van ECK Associates Corp now owns 3,537,451 shares of the information services provider’s stock valued at $533,908,000 after purchasing an additional 419,480 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. increased its position in Alphabet by 1.1% in the 1st quarter. Ables Iannone Moore & Associates Inc. now owns 62,534 shares of the information services provider’s stock worth $9,436,000 after purchasing an additional 655 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Loop Capital boosted their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday. Truist Financial increased their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein boosted 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. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, KeyCorp increased their price objective on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the sale, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,552 shares of company stock worth $40,287,253. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 2.4 %

NASDAQ:GOOGL opened at $180.75 on Friday. The firm has a market capitalization of $2.23 trillion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. 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 twelve month low of $127.90 and a twelve month high of $191.75. The stock’s 50 day moving average price is $162.86 and its two-hundred day moving average price is $169.36.

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 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 last year, the firm posted $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced 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 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Alphabet Company 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.