Bristlecone Advisors LLC Purchases 5,880 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bristlecone Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,345 shares of the information services provider’s stock after buying an additional 5,880 shares during the quarter. Alphabet makes up about 1.6% of Bristlecone Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Bristlecone Advisors LLC’s holdings in Alphabet were worth $20,291,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 4,064,073 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alphabet by 0.5% during 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 purchasing an additional 238,403 shares during the last quarter. Capital World Investors increased its holdings in shares of Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after purchasing an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. raised its position 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 worth $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now directly owns 28,524 shares in the company, valued at $4,385,565. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 242,552 shares of company stock valued at $40,287,253 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GOOGL shares. 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. The Goldman Sachs Group dropped their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Loop Capital upped their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Sanford C. Bernstein increased their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a 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 given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Up 2.4 %

GOOGL stock opened at $180.75 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. The stock has a market capitalization of $2.23 trillion, a P/E ratio of 23.97, a P/E/G ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The business has a 50-day moving average of $162.86 and a 200-day moving average of $169.36.

Alphabet (NASDAQ:GOOGL) last released 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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.99 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. Shareholders 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 annualized dividend and a yield of 0.44%. Alphabet’s payout ratio is currently 10.61%.

About Alphabet

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.