Highline Wealth Partners LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Highline Wealth Partners LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 18,879 shares of the information services provider’s stock, valued at approximately $3,131,000. Alphabet accounts for 1.0% of Highline Wealth Partners LLC’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Creekmur Asset Management LLC boosted its holdings in Alphabet by 5.8% during the third quarter. Creekmur Asset Management LLC now owns 12,768 shares of the information services provider’s stock valued at $2,118,000 after acquiring an additional 703 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Alphabet by 28.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,318 shares of the information services provider’s stock worth $716,000 after purchasing an additional 960 shares during the last quarter. WD Rutherford LLC boosted its stake in Alphabet by 2.2% during the 3rd quarter. WD Rutherford LLC now owns 31,715 shares of the information services provider’s stock valued at $5,260,000 after purchasing an additional 669 shares during the period. Adell Harriman & Carpenter Inc. grew its holdings in Alphabet by 2.4% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 147,489 shares of the information services provider’s stock valued at $24,461,000 after buying an additional 3,421 shares during the last quarter. Finally, Highview Capital Management LLC DE increased its position in Alphabet by 4.6% in the 3rd quarter. Highview Capital Management LLC DE now owns 28,097 shares of the information services provider’s stock worth $4,660,000 after buying an additional 1,231 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Finally, Loop Capital increased their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Seven equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Up 1.1 %

NASDAQ:GOOGL opened at $180.35 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The stock has a market cap of $2.21 trillion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 1.27 and a beta of 1.03. The company has a 50-day moving average price of $163.54 and a 200-day moving average price of $169.74.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business earned $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The firm 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 is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction 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 sale, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,752 shares of company stock worth $40,156,829 in the last three months. Insiders own 11.55% of the company’s stock.

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.