Portfolio Design Labs LLC Acquires 129 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Portfolio Design Labs LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,696 shares of the information services provider’s stock after purchasing an additional 129 shares during the period. Portfolio Design Labs LLC’s holdings in Alphabet were worth $281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% in the second 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 during the last quarter. LMR Partners LLP acquired a new stake in shares of Alphabet in the third quarter valued at about $32,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the second quarter valued at about $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet in the second quarter valued at about $53,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Roth Mkm lifted 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. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Evercore ISI boosted their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seven investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Up 1.8 %

NASDAQ GOOGL opened at $174.37 on Thursday. The business has a fifty day moving average price of $169.10 and a two-hundred day moving average price of $170.29. 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 Inc. has a fifty-two week low of $128.25 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.13 trillion, a PE ratio of 23.13, a PEG ratio of 1.22 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its 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 during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the company earned $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,624 shares of company stock worth $27,803,730 over the last three months. Insiders own 11.55% of the company’s stock.

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.