Argonautica Private Wealth Management Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 72,700 shares of the information services provider’s stock after buying an additional 244 shares during the period. Alphabet makes up 4.0% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Argonautica Private Wealth Management Inc.’s holdings in Alphabet were worth $12,057,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Stevens Capital Partners lifted its position in Alphabet by 34.7% in the third quarter. Stevens Capital Partners now owns 1,544 shares of the information services provider’s stock worth $256,000 after purchasing an additional 398 shares during the period. Arlington Trust Co LLC raised its stake in shares of Alphabet by 0.7% in the 3rd quarter. Arlington Trust Co LLC now owns 25,811 shares of the information services provider’s stock valued at $4,281,000 after buying an additional 167 shares in the last quarter. Fullcircle Wealth LLC lifted its holdings in shares of Alphabet by 0.6% during the 3rd quarter. Fullcircle Wealth LLC now owns 12,307 shares of the information services provider’s stock worth $2,052,000 after acquiring an additional 69 shares during the period. Ceredex Value Advisors LLC lifted its holdings in shares of Alphabet by 44.6% during the 3rd quarter. Ceredex Value Advisors LLC now owns 235,214 shares of the information services provider’s stock worth $39,010,000 after acquiring an additional 72,536 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Alphabet by 1.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 63,801 shares of the information services provider’s stock valued at $10,386,000 after acquiring an additional 734 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.
Insider Activity at Alphabet
In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is owned by corporate insiders.
Alphabet Stock Down 1.8 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the business earned $1.55 EPS. As a group, equities analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on GOOGL shares. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Evercore ISI raised their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. JMP Securities increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Guggenheim boosted their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.
Get Our Latest Report on Alphabet
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.
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