Freedom Investment Management Inc. Has $7.66 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Freedom Investment Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,212 shares of the information services provider’s stock after acquiring an additional 1,021 shares during the period. Freedom Investment Management Inc.’s holdings in Alphabet were worth $7,664,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP purchased a new stake in Alphabet in the 3rd quarter valued at about $32,000. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in shares of Alphabet in the second quarter valued at approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Price Performance

GOOGL stock opened at $175.37 on Tuesday. The firm has a 50 day simple moving average of $169.70 and a two-hundred day simple moving average of $170.21. The stock has a market cap of $2.15 trillion, a PE ratio of 23.26, a P/E/G ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a one year low of $129.68 and a one year high of $191.75. 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 (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business earned $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, 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. In the last 90 days, insiders sold 160,789 shares of company stock valued at $27,374,143. Corporate insiders own 11.55% of the company’s stock.

About Alphabet

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.