Physicians Financial Services Inc. Has $13.83 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Physicians Financial Services Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,362 shares of the information services provider’s stock after selling 1,390 shares during the quarter. Alphabet makes up about 4.3% of Physicians Financial Services Inc.’s investment portfolio, making the stock its 5th largest position. Physicians Financial Services Inc.’s holdings in Alphabet were worth $13,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Hampshire Trust raised its position in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Trinity Financial Advisors LLC grew its stake in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the period. abrdn plc grew its stake in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the period. StoneCrest Wealth Management Inc. grew its stake in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Finally, EWG Elevate Inc. grew its stake in shares of Alphabet by 9.7% during the third quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock worth $216,000 after purchasing an additional 115 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GOOGL shares. Tigress Financial lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group decreased their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Sanford C. Bernstein boosted their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Seven research 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Price Performance

NASDAQ:GOOGL opened at $167.83 on Friday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The stock’s 50 day moving average price is $167.50 and its two-hundred day moving average price is $170.38. 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 firm has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 1.27 and a beta of 1.03.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

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.