Raelipskie Partnership Raises Stock Holdings in Alphabet Inc. $GOOGL

Raelipskie Partnership grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,067 shares of the information services provider’s stock after acquiring an additional 1,415 shares during the period. Alphabet comprises approximately 1.2% of Raelipskie Partnership’s portfolio, making the stock its 15th biggest holding. Raelipskie Partnership’s holdings in Alphabet were worth $2,655,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Mystic Asset Management Inc. grew its stake in shares of Alphabet by 6.7% during 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 buying an additional 1,791 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the period. Alaethes Wealth LLC grew its position in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares during the last quarter. Moment Partners LLC increased its stake in Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after purchasing an additional 504 shares during the period. Finally, Welch Group LLC lifted its position in shares of Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 189,896 shares of company stock valued at $47,653,637. 11.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. Citigroup reaffirmed a “buy” rating and set a $343.00 target price (up from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. HSBC lifted their price objective on shares of Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Guggenheim increased their price target on Alphabet from $280.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wolfe Research reiterated an “outperform” rating and set a $350.00 price objective (up from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, UBS Group reiterated a “neutral” rating and issued a $306.00 target price (up previously from $255.00) on shares of Alphabet in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $305.33.

Alphabet Stock Down 0.3%

GOOGL stock opened at $284.28 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $293.95. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 28.04, 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. The firm has a 50-day moving average of $259.16 and a two-hundred day moving average of $211.00.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. As a group, analysts forecast that Alphabet Inc. will post 8.9 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 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

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.