Allied Investment Advisors LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Allied Investment Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,800 shares of the information services provider’s stock after purchasing an additional 202 shares during the quarter. Allied Investment Advisors LLC’s holdings in Alphabet were worth $464,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Fluent Financial LLC boosted its holdings in shares of Alphabet by 8.6% in the 3rd quarter. Fluent Financial LLC now owns 17,535 shares of the information services provider’s stock valued at $2,908,000 after acquiring an additional 1,392 shares during the last quarter. Biltmore Wealth Management LLC boosted its holdings in Alphabet by 4.1% in the third quarter. Biltmore Wealth Management LLC now owns 2,149 shares of the information services provider’s stock valued at $356,000 after purchasing an additional 85 shares during the last quarter. jvl associates llc boosted its holdings in Alphabet by 0.8% in the third quarter. jvl associates llc now owns 15,715 shares of the information services provider’s stock valued at $2,606,000 after purchasing an additional 125 shares during the last quarter. Sowell Financial Services LLC grew its position in Alphabet by 2.6% during the 3rd quarter. Sowell Financial Services LLC now owns 107,992 shares of the information services provider’s stock worth $17,911,000 after purchasing an additional 2,686 shares during the period. Finally, Abacus Wealth Partners LLC raised its stake in shares of Alphabet by 14.4% during the 3rd quarter. Abacus Wealth Partners LLC now owns 3,784 shares of the information services provider’s stock valued at $628,000 after buying an additional 476 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.7 %

GOOGL opened at $163.24 on Monday. The business’s 50 day moving average price is $161.37 and its 200 day moving average price is $167.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock 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. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the business posted $1.44 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on GOOGL shares. Mizuho raised their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. UBS Group raised their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Roth Mkm reiterated a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a research report on Thursday, August 29th. Evercore ISI reduced their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.95.

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.