Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,148 shares of the information services provider’s stock after purchasing an additional 2,731 shares during the period. Alphabet accounts for 1.6% of Weatherly Asset Management L. P.’s portfolio, making the stock its 16th largest position. Weatherly Asset Management L. P.’s holdings in Alphabet were worth $17,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cambiar Investors LLC increased its position in Alphabet by 0.6% in the third quarter. Cambiar Investors LLC now owns 352,764 shares of the information services provider’s stock worth $58,506,000 after buying an additional 2,018 shares during the period. CacheTech Inc. increased its holdings in shares of Alphabet by 5.9% in the 3rd quarter. CacheTech Inc. now owns 17,505 shares of the information services provider’s stock worth $2,903,000 after acquiring an additional 973 shares during the period. Americana Partners LLC increased its holdings in shares of Alphabet by 5.6% in the 3rd quarter. Americana Partners LLC now owns 107,488 shares of the information services provider’s stock worth $17,827,000 after acquiring an additional 5,735 shares during the period. Shepherd Financial Partners LLC lifted its position in Alphabet by 1.2% in the 3rd quarter. Shepherd Financial Partners LLC now owns 31,055 shares of the information services provider’s stock valued at $5,150,000 after purchasing an additional 374 shares during the last quarter. Finally, Fonville Wealth Management LLC boosted its stake in Alphabet by 24.6% during the 3rd quarter. Fonville Wealth Management LLC now owns 4,994 shares of the information services provider’s stock valued at $828,000 after purchasing an additional 986 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. Citigroup raised their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group cut their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. JMP Securities lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Down 1.8 %

Alphabet stock opened at $175.58 on Friday. The firm’s 50 day moving average price is $164.82 and its two-hundred day moving average price is $170.04. The firm has a market cap of $2.15 trillion, a PE ratio of 23.29, a P/E/G ratio of 1.29 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results 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. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business posted $1.55 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared 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 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % 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 three months. 11.55% of the stock is owned by insiders.

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.