CWA Asset Management Group LLC Acquires Shares of 96,090 Alphabet Inc. (NASDAQ:GOOGL)

CWA Asset Management Group LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 96,090 shares of the information services provider’s stock, valued at approximately $15,937,000. Alphabet accounts for 0.8% of CWA Asset Management Group LLC’s investment portfolio, making the stock its 28th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Capital Research Global Investors raised its position in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after buying an additional 4,662,809 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after buying an additional 4,410,811 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on GOOGL shares. Tigress Financial upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Morgan Stanley upped their target price on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.90.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $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 $34,673,866 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 4.6 %

Alphabet stock opened at $167.83 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company’s fifty day moving average price is $167.50 and its two-hundred day moving average price is $170.38.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the business posted $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced 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 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is presently 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.