Heritage Investment Group Inc. Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Heritage Investment Group Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 23.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,828 shares of the information services provider’s stock after purchasing an additional 544 shares during the quarter. Heritage Investment Group Inc.’s holdings in Alphabet were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GOOGL. New Hampshire Trust increased its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Trinity Financial Advisors LLC increased its position in Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the last quarter. abrdn plc increased its position in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares during the last quarter. StoneCrest Wealth Management Inc. increased its position in Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares during the last quarter. Finally, EWG Elevate Inc. increased its position in Alphabet by 9.7% during the third quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock valued at $216,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective 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. Wedbush reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Sanford C. Bernstein boosted their price target on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seven investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.2 %

Shares of NASDAQ GOOGL opened at $168.95 on Friday. 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’s 50 day moving average price is $168.47 and its 200-day moving average price is $170.33. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.20 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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 return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the business posted $1.55 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.01 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. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. 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.