Stoneridge Investment Partners LLC Buys 3,300 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Stoneridge Investment Partners LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,511 shares of the information services provider’s stock after acquiring an additional 3,300 shares during the period. Alphabet accounts for 2.3% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 11th biggest position. Stoneridge Investment Partners LLC’s holdings in Alphabet were worth $6,221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc grew 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 bought a new position in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $41,000. Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter valued at $53,000. Finally, Summit Securities Group LLC acquired a new position in shares of Alphabet during the 2nd quarter valued at $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $172.49 on Monday. The firm’s 50 day moving average is $165.61 and its 200 day moving average is $170.22. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The stock has a market capitalization of $2.11 trillion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced 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. The company 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 quarter last year, the firm posted $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm 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 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 payout ratio is currently 10.61%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock valued at $34,471,141. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. 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, November 6th. Roth Mkm boosted their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. DA Davidson initiated coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Finally, JMP Securities upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $205.90.

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.