Clarity Financial LLC Acquires 133 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Clarity Financial LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,678 shares of the information services provider’s stock after purchasing an additional 133 shares during the period. Clarity Financial LLC’s holdings in Alphabet were worth $942,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank boosted its position in shares of Alphabet by 1.0% during the third quarter. Amalgamated Bank now owns 1,274,850 shares of the information services provider’s stock valued at $211,434,000 after buying an additional 13,050 shares during the last quarter. United Advisor Group LLC lifted its stake in Alphabet by 150.2% during the 3rd quarter. United Advisor Group LLC now owns 34,908 shares of the information services provider’s stock valued at $5,790,000 after acquiring an additional 20,955 shares in the last quarter. Stoneridge Investment Partners LLC boosted its holdings in Alphabet by 9.6% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 37,511 shares of the information services provider’s stock worth $6,221,000 after acquiring an additional 3,300 shares during the last quarter. James J. Burns & Company LLC grew its stake in shares of Alphabet by 9.0% in the 3rd quarter. James J. Burns & Company LLC now owns 22,685 shares of the information services provider’s stock worth $3,763,000 after acquiring an additional 1,866 shares in the last quarter. Finally, FSM Wealth Advisors LLC raised its holdings in shares of Alphabet by 1.5% in the third quarter. FSM Wealth Advisors LLC now owns 14,954 shares of the information services provider’s stock valued at $2,480,000 after purchasing an additional 223 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $172.49 on Monday. The stock’s 50-day simple moving average is $165.61 and its two-hundred day simple moving average is $170.22. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.23 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 quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the business earned $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. JMP Securities lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Mizuho upped their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, DA Davidson initiated coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock worth $34,471,141. Corporate insiders own 11.55% of the company’s stock.

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.