Blueshift Asset Management LLC Invests $616,000 in Alphabet Inc. (NASDAQ:GOOGL)

Blueshift Asset Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,714 shares of the information services provider’s stock, valued at approximately $616,000.

Several other large investors also recently modified their holdings of GOOGL. Fisher Asset Management LLC lifted its stake in Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after buying an additional 1,237,385 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 shares in the last quarter. American Century Companies Inc. grew its holdings in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Alphabet by 9.1% in the second quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock valued at $4,237,426,000 after purchasing an additional 1,949,476 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $175.37 on Tuesday. 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 one year low of $129.68 and a one year high of $191.75. The firm has a market capitalization of $2.15 trillion, a P/E ratio of 23.26, a PEG ratio of 1.24 and a beta of 1.01. The business has a fifty day moving average price of $169.70 and a 200-day moving average price of $170.21.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company 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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GOOGL shares. Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Bank of America lifted their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,789 shares of company stock valued at $27,374,143 in the last three months. Company 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.