Concord Asset Management LLC VA Has $5.93 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Concord Asset Management LLC VA raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 19.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,750 shares of the information services provider’s stock after buying an additional 5,902 shares during the quarter. Alphabet accounts for about 1.3% of Concord Asset Management LLC VA’s holdings, making the stock its 19th biggest position. Concord Asset Management LLC VA’s holdings in Alphabet were worth $5,929,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Peterson Financial Group Inc. purchased a new position in Alphabet in the third quarter valued at about $94,000. Mechanics Financial Corp raised its stake in shares of Alphabet by 1.4% during the 3rd quarter. Mechanics Financial Corp now owns 22,243 shares of the information services provider’s stock worth $3,689,000 after purchasing an additional 300 shares in the last quarter. Atlanta Consulting Group Advisors LLC lifted its holdings in shares of Alphabet by 139.1% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 13,630 shares of the information services provider’s stock valued at $2,261,000 after buying an additional 7,929 shares during the last quarter. GoalVest Advisory LLC grew its stake in shares of Alphabet by 3.6% in the 3rd quarter. GoalVest Advisory LLC now owns 16,284 shares of the information services provider’s stock valued at $2,701,000 after buying an additional 568 shares in the last quarter. Finally, Beaton Management Co. Inc. grew its stake in shares of Alphabet by 2.1% in the 3rd quarter. Beaton Management Co. Inc. now owns 15,876 shares of the information services provider’s stock valued at $2,633,000 after buying an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.2 %

Alphabet stock opened at $168.95 on Friday. The firm has a 50 day moving average price of $168.47 and a 200-day moving average price of $170.33. 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 Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a market capitalization of $2.07 trillion, a P/E ratio of 22.41, a P/E/G ratio of 1.20 and a beta of 1.03.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

Several analysts have commented on GOOGL shares. KeyCorp boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein upped their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Evercore ISI raised their target price on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Truist Financial increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value 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. Over the last ninety days, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Company 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.