Davis Rea LTD. Purchases 19,828 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Davis Rea LTD. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,519 shares of the information services provider’s stock after acquiring an additional 19,828 shares during the quarter. Alphabet comprises 7.4% of Davis Rea LTD.’s portfolio, making the stock its 4th biggest position. Davis Rea LTD.’s holdings in Alphabet were worth $17,003,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc increased 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 valued at $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the second quarter worth about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the second quarter valued at about $41,000. Quarry LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $53,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,752 shares of company stock valued at $40,156,829 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GOOGL shares. Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Sanford C. Bernstein lifted 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. Guggenheim upped their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Finally, JMP Securities boosted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Up 0.7 %

Shares of Alphabet stock opened at $181.62 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The business’s fifty day moving average price is $163.88 and its two-hundred day moving average price is $169.91. The company has a market capitalization of $2.22 trillion, a P/E ratio of 24.09, 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 earnings per share 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 analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.