Parker Investment Management LLC Has $36.78 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Parker Investment Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 25.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,761 shares of the information services provider’s stock after selling 74,340 shares during the period. Alphabet makes up approximately 5.8% of Parker Investment Management LLC’s holdings, making the stock its 8th largest holding. Parker Investment Management LLC’s holdings in Alphabet were worth $36,779,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Lantz Financial LLC increased its stake in Alphabet by 10.8% in the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after acquiring an additional 452 shares during the period. RFG Advisory LLC boosted its holdings in Alphabet by 27.7% during the second quarter. RFG Advisory LLC now owns 67,487 shares of the information services provider’s stock valued at $12,293,000 after purchasing an additional 14,647 shares in the last quarter. Realta Investment Advisors grew its stake in shares of Alphabet by 5.7% in the 2nd quarter. Realta Investment Advisors now owns 31,879 shares of the information services provider’s stock valued at $5,807,000 after purchasing an additional 1,730 shares during the period. Granite Bay Wealth Management LLC raised its holdings in shares of Alphabet by 6,410.2% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 109,566 shares of the information services provider’s stock worth $18,488,000 after buying an additional 107,883 shares in the last quarter. Finally, Northwest Investment Counselors LLC lifted its position in shares of Alphabet by 3.5% during the 2nd quarter. Northwest Investment Counselors LLC now owns 17,595 shares of the information services provider’s stock worth $3,205,000 after buying an additional 590 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOOGL. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Sanford C. Bernstein increased their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Bank of America boosted their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.08.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 198,623 shares of company stock valued at $34,413,006 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $189.82 on Friday. The stock’s fifty day simple moving average is $171.63 and its 200 day simple moving average is $170.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.32 trillion, a PE ratio of 25.18, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 12 month low of $129.68 and a 12 month high of $195.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the firm posted $1.55 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.