Lifeworks Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 48.7% in the 3rd quarter, Holdings Channel reports. The fund owned 7,471 shares of the information services provider’s stock after buying an additional 2,448 shares during the period. Lifeworks Advisors LLC’s holdings in Alphabet were worth $1,239,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $36,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $41,000. Quarry LP purchased a new stake in Alphabet in the 2nd quarter worth approximately $53,000. Finally, Summit Securities Group LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Insider Transactions at Alphabet
In other news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 11.55% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Research Report on Alphabet
Alphabet Stock Performance
NASDAQ GOOGL opened at $169.23 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03. The company’s fifty day moving average is $168.36 and its two-hundred day moving average is $170.33. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released 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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm earned $1.55 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.
Alphabet Dividend Announcement
The firm 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 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.
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.
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