Alphabet Inc. (NASDAQ:GOOGL) Stock Position Increased by Cambiar Investors LLC

Cambiar Investors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 352,764 shares of the information services provider’s stock after purchasing an additional 2,018 shares during the quarter. Alphabet comprises about 2.3% of Cambiar Investors LLC’s holdings, making the stock its 10th largest position. Cambiar Investors LLC’s holdings in Alphabet were worth $58,506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in Alphabet in the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter valued at $41,000. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Quarry LP acquired a new stake in Alphabet during the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein boosted their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. UBS Group raised 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. Piper Sandler reiterated an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Mizuho lifted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Seven research 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Trading Down 1.8 %

Alphabet stock opened at $175.58 on Friday. The company has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.29 and a beta of 1.03. The company’s fifty day moving average price is $164.82 and its two-hundred day moving average price is $170.04. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. 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 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 business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the company earned $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend yield of 0.46%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated 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 directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,471,141 in the last 90 days. 11.55% of the stock is owned by company insiders.

About Alphabet

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.