Alphabet Inc. (NASDAQ:GOOGL) Position Lifted by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 66.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 47,450 shares of the information services provider’s stock after acquiring an additional 18,866 shares during the period. Alphabet makes up 1.4% of Smithbridge Asset Management Inc. DE’s holdings, making the stock its 24th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Alphabet were worth $7,870,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GOOGL. China Universal Asset Management Co. Ltd. lifted its holdings in Alphabet by 70.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after buying an additional 41,880 shares during the last quarter. Avior Wealth Management LLC lifted its stake in Alphabet by 34.9% during the first quarter. Avior Wealth Management LLC now owns 78,782 shares of the information services provider’s stock worth $11,891,000 after purchasing an additional 20,394 shares during the last quarter. Colony Family Offices LLC boosted its holdings in Alphabet by 93.2% in the first quarter. Colony Family Offices LLC now owns 3,169 shares of the information services provider’s stock worth $478,000 after purchasing an additional 1,529 shares during the period. Prosperity Consulting Group LLC increased its stake in Alphabet by 6.0% during the first quarter. Prosperity Consulting Group LLC now owns 31,968 shares of the information services provider’s stock valued at $4,825,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alphabet by 23.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,492,075 shares of the information services provider’s stock worth $1,130,779,000 after purchasing an additional 1,402,400 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on GOOGL shares. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Citigroup raised their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley upped their price objective on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,552 shares of company stock worth $40,287,253. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $178.35 on Friday. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.20 trillion, a PE ratio of 23.65, a PEG ratio of 1.20 and a beta of 1.03. The company’s 50 day moving average price is $163.54 and its 200 day moving average price is $169.59.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. 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 fiscal year.

Alphabet Dividend Announcement

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

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.