Claro Advisors LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Claro Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 16.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,307 shares of the information services provider’s stock after purchasing an additional 5,271 shares during the quarter. Alphabet comprises approximately 0.8% of Claro Advisors LLC’s portfolio, making the stock its 21st biggest holding. Claro Advisors LLC’s holdings in Alphabet were worth $6,187,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. MorganRosel Wealth Management LLC increased its position in shares of Alphabet by 3.6% in the 2nd 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 increased its holdings 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 purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc raised 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 worth $26,000 after purchasing an additional 60 shares during the last quarter. First PREMIER Bank lifted its holdings in shares of Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the period. Finally, Cutler Investment Counsel LLC boosted its position in Alphabet by 1.7% in the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after buying an additional 61 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Down 0.2 %

NASDAQ GOOGL opened at $168.95 on Monday. 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 firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.20 and a beta of 1.03. The firm has a 50 day simple moving average of $168.47 and a 200-day simple moving average of $170.31. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOGL. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Finally, Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seven 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred 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 owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently 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.