Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Forum Financial Management LP

Forum Financial Management LP grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,404 shares of the information services provider’s stock after purchasing an additional 1,597 shares during the period. Forum Financial Management LP’s holdings in Alphabet were worth $12,340,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Alphabet by 70.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after acquiring an additional 41,880 shares during the period. Quent Capital LLC lifted its holdings in shares of Alphabet by 3.6% during the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after acquiring an additional 1,072 shares during the period. Empowered Funds LLC raised its holdings in Alphabet by 12.3% in the first quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider’s stock valued at $28,351,000 after buying an additional 20,572 shares during the period. Sustainable Insight Capital Management LLC raised its holdings in Alphabet by 146.4% in the first quarter. Sustainable Insight Capital Management LLC now owns 8,920 shares of the information services provider’s stock valued at $1,346,000 after buying an additional 5,300 shares during the period. Finally, Illinois Municipal Retirement Fund raised its holdings in Alphabet by 2.4% in the first quarter. Illinois Municipal Retirement Fund now owns 513,406 shares of the information services provider’s stock valued at $77,488,000 after buying an additional 11,837 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. KeyCorp increased their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven investment 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 stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the business’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 trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,471,141 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $172.49 on Friday. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The firm’s 50-day simple moving average is $165.61 and its 200 day simple moving average is $170.13. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.27 and a beta of 1.03.

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 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 for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the business earned $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.99 EPS 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 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 is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.