Garrison Point Advisors LLC Purchases 230 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Garrison Point Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,175 shares of the information services provider’s stock after purchasing an additional 230 shares during the quarter. Alphabet makes up about 2.2% of Garrison Point Advisors LLC’s investment portfolio, making the stock its 7th largest position. Garrison Point Advisors LLC’s holdings in Alphabet were worth $3,512,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Alphabet by 0.5% in the 2nd 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 in the last quarter. Capital World Investors boosted its stake in Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after buying an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Alphabet by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after buying an additional 418,204 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Frances Arnold sold 441 shares of the company’s 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 transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,552 shares of company stock valued at $34,433,848. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Tigress Financial boosted their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group decreased their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Stock Up 0.3 %

NASDAQ:GOOGL opened at $169.74 on Wednesday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.09 trillion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.22 and a beta of 1.03. The stock has a 50-day moving average price of $162.59 and a two-hundred day moving average price of $169.31.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is 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.