Eldred Rock Partners LLC Buys 3,986 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Eldred Rock Partners LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,170 shares of the information services provider’s stock after buying an additional 3,986 shares during the period. Alphabet accounts for 4.8% of Eldred Rock Partners LLC’s investment portfolio, making the stock its largest holding. Eldred Rock Partners LLC’s holdings in Alphabet were worth $14,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of GOOGL. Seneca House Advisors boosted its position in shares of Alphabet by 0.7% in the 3rd quarter. Seneca House Advisors now owns 65,408 shares of the information services provider’s stock valued at $10,848,000 after purchasing an additional 469 shares during the period. Goelzer Investment Management Inc. lifted its stake in Alphabet by 1.7% in the third quarter. Goelzer Investment Management Inc. now owns 6,528 shares of the information services provider’s stock valued at $1,083,000 after buying an additional 110 shares during the last quarter. Allied Investment Advisors LLC boosted its holdings in shares of Alphabet by 7.8% in the third quarter. Allied Investment Advisors LLC now owns 2,800 shares of the information services provider’s stock valued at $464,000 after acquiring an additional 202 shares during the period. Fluent Financial LLC increased 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 period. Finally, Biltmore Wealth Management LLC raised its position in Alphabet by 4.1% in the 3rd 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. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, 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 completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at $355,743,153.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock valued at $35,644,136 over the last quarter. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. UBS Group increased their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Loop Capital restated a “hold” rating and set a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $200.95.

Alphabet Trading Up 0.7 %

Alphabet stock opened at $163.24 on Monday. The stock has a market cap 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 current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $161.37 and a 200 day moving average price of $167.86. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the business posted $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. 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 is presently 12.27%.

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.