Presidio Capital Management LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Presidio Capital Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,297 shares of the information services provider’s stock after buying an additional 312 shares during the period. Presidio Capital Management LLC’s holdings in Alphabet were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. MorganRosel Wealth Management LLC boosted its holdings in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares during the period. Hengehold Capital Management LLC lifted its stake in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares during the period. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. First PREMIER Bank lifted its stake in shares of Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after buying an additional 61 shares during the period. Finally, MKT Advisors LLC lifted its stake in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after buying an additional 62 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on GOOGL. Tigress Financial increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Truist Financial increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI increased their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Loop Capital increased their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Price Performance

GOOGL stock opened at $167.83 on Friday. The firm has a 50 day moving average of $167.50 and a 200-day moving average of $170.38. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm has a market capitalization of $2.05 trillion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business posted $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. 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 dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

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

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.