Firetrail Investments PTY Ltd. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,512 shares of the information services provider’s stock after acquiring an additional 673 shares during the period. Alphabet makes up approximately 4.7% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 6th largest holding. Firetrail Investments PTY Ltd.’s holdings in Alphabet were worth $16,322,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. International Assets Investment Management LLC increased its stake 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 valued at $31,086,250,000 after acquiring an additional 18,700,111 shares during the period. SG Americas Securities LLC increased its stake in Alphabet by 587.4% during 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 acquiring an additional 9,135,056 shares during the period. Capital Research Global Investors increased its stake in Alphabet by 14.4% during 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 acquiring an additional 7,275,757 shares during the period. Assenagon Asset Management S.A. increased its stake in Alphabet by 116.4% during 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 acquiring an additional 4,662,809 shares during the period. Finally, Wulff Hansen & CO. increased its stake in Alphabet by 18,810.2% during 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 acquiring an additional 4,410,811 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Alphabet Stock Up 0.1 %
NASDAQ:GOOGL opened at $169.23 on Thursday. The stock’s fifty day moving average price is $168.22 and its two-hundred day moving average price is $170.34. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03.
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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. This represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,795 shares of company stock worth $34,673,866. Insiders own 11.55% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on GOOGL. Truist Financial boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Roth Mkm lifted their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $205.90.
Get Our Latest Analysis on Alphabet
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.
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