Alphabet Inc. (NASDAQ:GOOGL) is GFS Advisors LLC’s 2nd Largest Position

GFS Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 82,435.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 136,183 shares of the information services provider’s stock after acquiring an additional 136,018 shares during the quarter. Alphabet makes up approximately 4.8% of GFS Advisors LLC’s holdings, making the stock its 2nd largest holding. GFS Advisors LLC’s holdings in Alphabet were worth $22,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $41,000. CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Alphabet in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $172.49 on Friday. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm has a market cap of $2.11 trillion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. 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 business has a fifty day moving average of $165.18 and a 200-day moving average of $170.08.

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. On average, equities research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOGL. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Truist Financial raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Seven 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,471,141 in the last 90 days. Corporate 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.