Lake Street Advisors Group LLC Has $11.33 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Lake Street Advisors Group LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,310 shares of the information services provider’s stock after selling 505 shares during the period. Lake Street Advisors Group LLC’s holdings in Alphabet were worth $11,329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Hampshire Trust grew its stake in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. bought a new position in Alphabet in the first quarter worth $359,000. Schneider Downs Wealth Management Advisors LP lifted its position in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after purchasing an additional 2,351 shares during the period. Trinity Financial Advisors LLC lifted its position in Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the period. Finally, StoneCrest Wealth Management Inc. lifted its position in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $176.51 on Thursday. The stock has a 50-day moving average price of $162.86 and a 200 day moving average price of $169.36. 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 has a market cap of $2.17 trillion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during 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 period last year, the company earned $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. 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 business’s 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 completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,052 shares of company stock worth $38,424,448. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the subject of several research reports. Morgan Stanley raised their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Mizuho raised their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Roth Mkm raised their target price on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Seven equities research 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.90.

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.