Schulhoff & Co. Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Schulhoff & Co. Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.1% during the third quarter, HoldingsChannel reports. The firm owned 9,983 shares of the information services provider’s stock after purchasing an additional 1,385 shares during the quarter. Schulhoff & Co. Inc.’s holdings in Alphabet were worth $1,656,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Curi RMB Capital LLC raised its position in shares of Alphabet by 3.6% in the 3rd quarter. Curi RMB Capital LLC now owns 335,698 shares of the information services provider’s stock worth $55,676,000 after buying an additional 11,722 shares during the period. Planning Capital Management Corp raised its position in shares of Alphabet by 20.7% in the 3rd quarter. Planning Capital Management Corp now owns 3,145 shares of the information services provider’s stock worth $522,000 after buying an additional 540 shares during the period. Zions Bancorporation N.A. raised its position in shares of Alphabet by 27.1% in the 3rd quarter. Zions Bancorporation N.A. now owns 36,999 shares of the information services provider’s stock worth $6,136,000 after buying an additional 7,882 shares during the period. Huntington National Bank raised its position in shares of Alphabet by 1.5% in the 3rd quarter. Huntington National Bank now owns 1,558,043 shares of the information services provider’s stock worth $258,402,000 after buying an additional 23,743 shares during the period. Finally, Summit Asset Management LLC raised its position in shares of Alphabet by 12.5% in the 3rd quarter. Summit Asset Management LLC now owns 2,692 shares of the information services provider’s stock worth $446,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOGL. Pivotal Research increased their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JMP Securities increased their price target on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Roth Mkm increased their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a report 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $169.23 on Friday. 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 firm’s 50-day moving average price is $168.36 and its two-hundred day moving average price is $170.33. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company posted $1.55 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.