Mach 1 Financial Group LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Mach 1 Financial Group LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,242 shares of the information services provider’s stock after purchasing an additional 591 shares during the quarter. Alphabet accounts for 0.5% of Mach 1 Financial Group LLC’s portfolio, making the stock its 27th biggest holding. Mach 1 Financial Group LLC’s holdings in Alphabet were worth $869,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOOGL. MorganRosel Wealth Management LLC grew its position in shares of Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares in the last quarter. Hengehold Capital Management LLC boosted its stake in Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the 2nd 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. First PREMIER Bank raised its position in shares of Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after buying an additional 61 shares during the last quarter. Finally, MKT Advisors LLC lifted its holdings in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after buying an additional 62 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL stock opened at $164.76 on Friday. The company has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.19 and a beta of 1.03. The company’s 50-day simple moving average is $167.64 and its two-hundred day simple moving average is $170.35. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

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. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm earned $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Tigress Financial raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. JMP Securities boosted 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. DA Davidson assumed coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Finally, Sanford C. Bernstein lifted their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insiders Place Their Bets

In related 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 transaction of $3,442,233.45. Following the sale, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,673,866 in the last three months. Corporate insiders own 11.55% of the company’s stock.

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.