Obsidian Personal Planning Solutions LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Obsidian Personal Planning Solutions LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% in the third quarter, Holdings Channel reports. The institutional investor owned 3,228 shares of the information services provider’s stock after acquiring an additional 135 shares during the quarter. Obsidian Personal Planning Solutions LLC’s holdings in Alphabet were worth $552,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc increased its holdings in shares of 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 acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in Alphabet in the second quarter worth $36,000. Denver PWM LLC bought a new stake in Alphabet during the second quarter valued at $41,000. Quarry LP acquired a new stake in shares of Alphabet during the second quarter worth $53,000. Finally, Summit Securities Group LLC bought a new position in shares of Alphabet in the 2nd quarter worth about $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock opened at $168.95 on Friday. The firm has a market cap of $2.07 trillion, a PE ratio of 22.41, a P/E/G ratio of 1.20 and a beta of 1.03. The business’s 50 day simple moving average is $168.47 and its 200 day simple moving average is $170.33. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75.

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

Alphabet Dividend Announcement

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

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet 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 completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. 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 three months. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GOOGL. Evercore ISI increased their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. JMP Securities boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.