5th Street Advisors LLC Purchases Shares of 4,200 Alphabet Inc. (NASDAQ:GOOGL)

5th Street Advisors LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,200 shares of the information services provider’s stock, valued at approximately $697,000. Alphabet accounts for approximately 0.3% of 5th Street Advisors LLC’s holdings, making the stock its 22nd biggest holding.

Other large investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc boosted its holdings 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 buying an additional 60 shares during the period. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter valued at about $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the second quarter worth about $41,000. Quarry LP purchased a new stake in shares of Alphabet during the second quarter worth about $53,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Alphabet during the second quarter worth about $55,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 1.7 %

Shares of NASDAQ GOOGL opened at $164.76 on Friday. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm has a market cap of $2.02 trillion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The business has a fifty day simple moving average of $167.64 and a two-hundred day simple moving average of $170.36. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the company posted $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GOOGL shares. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Truist Financial upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. DA Davidson began coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Sanford C. Bernstein boosted 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. Finally, Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven 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. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity at Alphabet

In other news, 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 value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 over the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet 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.