Coastwise Capital Group LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Coastwise Capital Group LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,173 shares of the information services provider’s stock after buying an additional 954 shares during the period. Alphabet comprises 3.1% of Coastwise Capital Group LLC’s portfolio, making the stock its 6th largest position. Coastwise Capital Group LLC’s holdings in Alphabet were worth $3,707,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the last quarter. Finally, PineStone Asset Management Inc. lifted its holdings in shares of Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $191.96 on Friday. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $195.61. The business has a 50-day moving average of $170.66 and a two-hundred day moving average of $170.46. The stock has a market capitalization of $2.35 trillion, a P/E ratio of 25.46, a P/E/G ratio of 1.24 and a beta of 1.01. 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 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 return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 paid 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 0.42%. Alphabet’s payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOOGL shares. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Bank of America lifted their target price on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm lifted their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now directly owns 27,824 shares of the company’s stock, valued at $4,590,960. The trade was a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 approximately $339,713,977.55. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,123 shares of company stock worth $34,121,676 over the last three months. Company insiders own 11.55% of the company’s stock.

Alphabet 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.