Isthmus Partners LLC Invests $436,000 in Alphabet Inc. (NASDAQ:GOOGL)

Isthmus Partners LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,630 shares of the information services provider’s stock, valued at approximately $436,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in shares of 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 worth $8,268,933,000 after acquiring an additional 1,237,385 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Alphabet by 0.5% in the second 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 buying an additional 238,403 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after buying an additional 523,416 shares during the last quarter. American Century Companies Inc. raised its holdings in Alphabet by 1.8% during the 2nd 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 last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Alphabet by 9.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock worth $4,237,426,000 after purchasing an additional 1,949,476 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOGL. BMO Capital Markets restated an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. 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. Bank of America upped their target price on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. DA Davidson initiated coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Finally, Evercore ISI lifted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.03.

Alphabet Trading Up 5.6 %

GOOGL opened at $185.17 on Wednesday. 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 $129.68 and a fifty-two week high of $191.75. The firm has a market capitalization of $2.27 trillion, a PE ratio of 24.56, a P/E/G ratio of 1.24 and a beta of 1.01. The company’s 50-day moving average is $169.70 and its 200 day moving average is $170.21.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the firm posted $1.55 EPS. As a group, research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 0.43%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,923 shares of company stock worth $34,244,676 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

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.