QRG Capital Management Inc. Has $168.41 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

QRG Capital Management Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,015,455 shares of the information services provider’s stock after buying an additional 35,901 shares during the period. Alphabet comprises about 1.8% of QRG Capital Management Inc.’s holdings, making the stock its 6th largest position. QRG Capital Management Inc.’s holdings in Alphabet were worth $168,413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of GOOGL. National Pension Service grew its holdings in Alphabet by 14.8% during the 3rd quarter. National Pension Service now owns 11,282,407 shares of the information services provider’s stock valued at $1,871,187,000 after buying an additional 1,450,659 shares in the last quarter. Lutz Financial Services LLC increased its holdings in shares of Alphabet by 10.4% in the third quarter. Lutz Financial Services LLC now owns 2,220 shares of the information services provider’s stock worth $368,000 after buying an additional 209 shares during the period. Silicon Valley Capital Partners increased its stake in shares of Alphabet by 4.0% in the third quarter. Silicon Valley Capital Partners now owns 192,655 shares of the information services provider’s stock worth $31,952,000 after buying an additional 7,376 shares during the period. Cohen Capital Management Inc. lifted its holdings in Alphabet by 2.0% in the 3rd quarter. Cohen Capital Management Inc. now owns 70,642 shares of the information services provider’s stock worth $11,716,000 after buying an additional 1,380 shares during the period. Finally, Wetzel Investment Advisors Inc. lifted its position in shares of Alphabet by 2.4% in the 3rd quarter. Wetzel Investment Advisors Inc. now owns 6,364 shares of the information services provider’s stock worth $1,055,000 after purchasing an additional 149 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $172.49 on Friday. 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 Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a market capitalization of $2.11 trillion, a PE ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03. The stock has a 50-day simple moving average of $165.61 and a 200-day simple moving average of $170.13.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the company earned $1.55 EPS. On average, analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued 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 currently 10.61%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’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 $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. 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 insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GOOGL shares. Truist Financial upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein upped their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Loop Capital upped their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Bank of America lifted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup boosted their price objective on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.