Rocky Mountain Advisers LLC Has $532,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Rocky Mountain Advisers LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 33.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,210 shares of the information services provider’s stock after purchasing an additional 800 shares during the quarter. Rocky Mountain Advisers LLC’s holdings in Alphabet were worth $532,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GOOGL. New Hampshire Trust increased its position in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the period. Trinity Financial Advisors LLC boosted its stake in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares during the last quarter. abrdn plc boosted its stake in shares of Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the last quarter. StoneCrest Wealth Management Inc. grew its position in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares during the period. Finally, EWG Elevate Inc. raised its stake in shares of Alphabet by 9.7% during the third quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock worth $216,000 after buying an additional 115 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.7 %

NASDAQ:GOOGL opened at $164.76 on Friday. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The stock’s 50 day moving average price is $167.64 and its two-hundred day moving average price is $170.35. 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 announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOGL shares. JMP Securities raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Bank of America upped their price objective on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 21,467 shares of the business’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 completion of the sale, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. The trade was a 35.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 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.