Howe & Rusling Inc. Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Howe & Rusling Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,260 shares of the information services provider’s stock after acquiring an additional 71 shares during the period. Howe & Rusling Inc.’s holdings in Alphabet were worth $872,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. LMR Partners LLP bought a new position in shares of Alphabet in the 3rd quarter worth about $32,000. Kings Path Partners LLC purchased a new position in Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC bought a new stake in Alphabet during the second quarter worth about $41,000. Finally, Quarry LP purchased a new stake in Alphabet in the second quarter worth about $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Evercore ISI upped their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Tigress Financial raised their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,802 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the transaction, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 in the last quarter. 11.55% of the stock is owned by company insiders.

Alphabet Trading Down 0.1 %

Shares of GOOGL opened at $171.34 on Wednesday. The company’s fifty day simple moving average is $168.84 and its 200-day simple moving average is $170.26. The company has a market cap of $2.10 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.22 and a beta of 1.01. 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 Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

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 analysts’ consensus estimates 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 analyst estimates of $72.85 billion. During the same period in the prior year, the company posted $1.55 EPS. As a group, analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

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 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 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.