Canton Hathaway LLC Has $1.19 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Canton Hathaway LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 12.9% in the third quarter, HoldingsChannel.com reports. The fund owned 7,181 shares of the information services provider’s stock after purchasing an additional 820 shares during the quarter. Canton Hathaway LLC’s holdings in Alphabet were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. LMR Partners LLP acquired a new position in shares of Alphabet in the third quarter valued at $32,000. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth about $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet during the 2nd quarter worth about $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.2 %

Shares of GOOGL opened at $174.71 on Monday. The stock’s 50-day moving average price is $169.51 and its two-hundred day moving average price is $170.20. Alphabet Inc. has a 12 month low of $129.68 and a 12 month high of $191.75. The company has a market capitalization of $2.14 trillion, a PE ratio of 23.17, a PEG ratio of 1.24 and a beta of 1.01. 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 (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the business posted $1.55 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 800 shares of the company’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 transaction of $123,000.00. Following the transaction, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. This represents a 2.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,624 shares of company stock valued at $27,803,730 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Royal Bank of Canada boosted their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report 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 given a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target 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.