Stifel Financial Corp Has $1.05 Billion Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Stifel Financial Corp reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,320,158 shares of the information services provider’s stock after selling 112,572 shares during the period. Alphabet makes up 1.1% of Stifel Financial Corp’s investment portfolio, making the stock its 5th largest holding. Stifel Financial Corp owned about 0.05% of Alphabet worth $1,048,225,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Schear Investment Advisers LLC raised its stake in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC grew its holdings in Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares during the last quarter. abrdn plc lifted its stake in Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. boosted its holdings in Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now owns 23,324 shares in the company, valued at $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,623 shares of company stock valued at $34,413,006 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Roth Mkm lifted their target price 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. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven equities 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Stock Down 1.1 %

GOOGL opened at $189.82 on Friday. 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 $195.61. The firm has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a fifty day moving average price of $171.63 and a 200-day moving average price of $170.67.

Alphabet (NASDAQ:GOOGL) last announced its 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. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company earned $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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.