Farther Finance Advisors LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Farther Finance Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 9.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,365 shares of the information services provider’s stock after purchasing an additional 10,044 shares during the quarter. Alphabet comprises about 0.7% of Farther Finance Advisors LLC’s holdings, making the stock its 18th largest position. Farther Finance Advisors LLC’s holdings in Alphabet were worth $19,463,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. MorganRosel Wealth Management LLC grew its stake in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its holdings in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. First PREMIER Bank raised its position in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares in the last quarter. Finally, MKT Advisors LLC lifted its stake in Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. The Goldman Sachs Group cut their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. 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 stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Down 1.8 %

GOOGL opened at $175.58 on Friday. The company has a market capitalization of $2.15 trillion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03. The business has a 50-day moving average of $164.82 and a 200-day moving average of $170.04. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week 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, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.99 EPS 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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insider Buying and Selling

In related 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 value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the 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 in the company, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 206,795 shares of company stock worth $34,471,141. Corporate insiders own 11.55% of the company’s stock.

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.