Alphabet Inc. $GOOGL Position Increased by Simon Quick Advisors LLC

Simon Quick Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 20.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,293 shares of the information services provider’s stock after buying an additional 13,360 shares during the quarter. Simon Quick Advisors LLC’s holdings in Alphabet were worth $13,974,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GOOGL. Mystic Asset Management Inc. grew its stake in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Alaethes Wealth LLC raised its holdings in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after purchasing an additional 84 shares in the last quarter. Moment Partners LLC lifted its stake in shares of Alphabet by 9.3% in the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. lifted its stake in shares of Alphabet by 8.4% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock valued at $4,832,000 after purchasing an additional 2,434 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Oppenheimer raised their target price on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, October 20th. China Renaissance increased their price objective on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a report on Friday, October 31st. Tigress Financial boosted their target price on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, September 5th. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 target price (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, HSBC lifted their price target on shares of Alphabet from $295.00 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 assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $304.10.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 221,796 shares of company stock valued at $53,983,001 over the last quarter. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.4%

Shares of Alphabet stock opened at $291.31 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.92. The company’s fifty day simple moving average is $254.37 and its 200-day simple moving average is $206.73. The company has a market cap of $3.52 trillion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

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.