5th Street Advisors LLC Invests $697,000 in Alphabet Inc. (NASDAQ:GOOGL)

5th Street Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, HoldingsChannel reports. The firm bought 4,200 shares of the information services provider’s stock, valued at approximately $697,000. Alphabet makes up about 0.3% of 5th Street Advisors LLC’s investment portfolio, making the stock its 22nd largest position.

Several other hedge funds also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% during the second 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 in the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter valued at approximately $41,000. Quarry LP purchased a new position in shares of Alphabet in the second quarter worth $53,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Alphabet during the second quarter worth $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 1.7 %

Shares of GOOGL opened at $164.76 on Friday. The stock has a fifty day simple moving average of $167.64 and a two-hundred day simple moving average of $170.36. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.02 trillion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its 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. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate 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 firm earned $1.55 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 206,795 shares of company stock worth $34,673,866. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GOOGL shares. DA Davidson began coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Tigress Financial raised their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. JMP Securities upped their target price on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. KeyCorp raised their price target 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. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

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.