Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Lyell Wealth Management LP

Lyell Wealth Management LP grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 140,285 shares of the information services provider’s stock after buying an additional 1,612 shares during the quarter. Alphabet accounts for about 2.1% of Lyell Wealth Management LP’s investment portfolio, making the stock its 9th biggest holding. Lyell Wealth Management LP’s holdings in Alphabet were worth $23,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors raised its holdings in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Bank of New York Mellon Corp boosted its position in Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Capital World Investors increased its position in shares of Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after buying an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after buying an additional 418,204 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GOOGL shares. Loop Capital lifted their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday. Sanford C. Bernstein boosted their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. JMP Securities raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Guggenheim raised their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Up 4.0 %

NASDAQ:GOOGL opened at $176.51 on Thursday. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The stock’s fifty day moving average is $162.86 and its two-hundred day moving average is $169.36. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 EPS. Research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

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 dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the transaction, the director now owns 30,024 shares in the company, valued at $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the sale, the director now directly owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,052 shares of company stock valued at $38,424,448 in the last ninety days. Company insiders own 11.55% of the company’s stock.

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.