Rather & Kittrell Inc. Buys Shares of 2,344 Alphabet Inc. (NASDAQ:GOOGL)

Rather & Kittrell Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,344 shares of the information services provider’s stock, valued at approximately $389,000.

Other hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $41,000. Quarry LP bought a new stake in Alphabet during the 2nd quarter valued at $53,000. Finally, Summit Securities Group LLC acquired a new position in Alphabet during the 2nd quarter worth $55,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.7 %

Alphabet stock opened at $164.76 on Friday. 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 $167.64 and its two-hundred day moving average price is $170.36. 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 $2.02 trillion, a price-to-earnings ratio of 21.85, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Sanford C. Bernstein upped their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Roth Mkm lifted their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated 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 directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % 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 $34,673,866 over the last three months. 11.55% of the stock is currently owned by 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.