Alphabet Inc. (NASDAQ:GOOGL) is Ables Iannone Moore & Associates Inc.’s 4th Largest Position

Ables Iannone Moore & Associates Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,311 shares of the information services provider’s stock after purchasing an additional 1,047 shares during the quarter. Alphabet comprises 6.8% of Ables Iannone Moore & Associates Inc.’s portfolio, making the stock its 4th largest position. Ables Iannone Moore & Associates Inc.’s holdings in Alphabet were worth $10,500,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter worth approximately $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter worth approximately $30,000. Denver PWM LLC purchased a new stake in Alphabet during the second quarter worth approximately $41,000. Finally, Quarry LP purchased a new stake in Alphabet during the second quarter worth approximately $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $163.24 on Friday. The firm has a 50-day moving average price of $161.37 and a 200 day moving average price of $167.75. The firm has a market capitalization of $2.02 trillion, a PE ratio of 25.04, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. BMO Capital Markets decreased their target price on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday. Piper Sandler restated an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a research note on Monday, September 30th. Citigroup upped their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.95.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,092 shares of company stock worth $35,644,136. Corporate insiders own 11.55% of the company’s stock.

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.