Chicago Partners Investment Group LLC Has $10.39 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Chicago Partners Investment Group LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,801 shares of the information services provider’s stock after acquiring an additional 734 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Alphabet were worth $10,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter worth $36,000. Denver PWM LLC acquired a new position in Alphabet during the second quarter worth $41,000. CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares in the last quarter. Finally, Quarry LP bought a new position in Alphabet during the second quarter valued at about $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,471,141 over the last three months. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $175.58 on Friday. The company has a market cap of $2.15 trillion, a PE ratio of 23.29, a PEG ratio of 1.29 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company’s 50-day moving average is $164.82 and its two-hundred day moving average is $170.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $72.85 billion. During the same period in the prior year, the business posted $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current 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 given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is currently 10.61%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOGL shares. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Roth Mkm increased their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.