Beck Capital Management LLC Takes $210,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Beck Capital Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, Holdings Channel.com reports. The firm bought 1,266 shares of the information services provider’s stock, valued at approximately $210,000.

A number of other hedge funds have also modified their holdings of GOOGL. International Assets Investment Management LLC raised its position in shares of Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after buying an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after buying an additional 4,662,809 shares during the last quarter. Wulff Hansen & CO. raised its position in shares of Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after buying an additional 4,410,811 shares during the last quarter. Finally, PineStone Asset Management Inc. grew its holdings in shares of Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Tuesday. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seven 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 stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $191.96 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $195.61. The stock has a market cap of $2.35 trillion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The firm’s fifty day simple moving average is $170.66 and its 200-day simple moving average is $170.46.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results 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 business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the company posted $1.55 EPS. Analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $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 at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The shares were 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. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,123 shares of company stock valued at $34,121,676 in the last ninety days. 11.55% of the stock is currently owned by company 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.