Alphabet Inc. $GOOGL is Purkiss Capital Advisors LLC’s 9th Largest Position

Purkiss Capital Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 46.7% during the second quarter, Holdings Channel.com reports. The fund owned 19,030 shares of the information services provider’s stock after acquiring an additional 6,062 shares during the quarter. Alphabet accounts for 1.9% of Purkiss Capital Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Purkiss Capital Advisors LLC’s holdings in Alphabet were worth $3,354,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG grew its position in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after purchasing an additional 104,859 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $278.83 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.37 trillion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59. The company’s 50-day moving average is $251.23 and its 200 day moving average is $204.56.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOGL. Daiwa Capital Markets upped their price target on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank Of Canada restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Susquehanna raised their target price on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, Bank of America raised their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the transaction, the chief accounting officer directly owned 14,517 shares in the company, valued at $4,098,584.61. This represents a 6.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 222,396 shares of company stock valued at $54,105,275. Insiders own 11.64% of the company’s stock.

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.