Alphabet Inc. $GOOGL Shares Acquired by Keynote Financial Services LLC

Keynote Financial Services LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,427 shares of the information services provider’s stock after purchasing an additional 1,891 shares during the period. Alphabet comprises approximately 2.1% of Keynote Financial Services LLC’s investment portfolio, making the stock its 8th biggest position. Keynote Financial Services LLC’s holdings in Alphabet were worth $3,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Gimbal Financial grew its position in Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 53 shares during the last quarter. Missouri Trust & Investment Co grew its holdings in shares of Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. Silver Coast Investments LLC increased its position in Alphabet by 1.3% during the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC increased its position in Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares in the last quarter. Finally, Bfsg LLC lifted its stake in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $299.66 on Monday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $306.42. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $262.39 and a 200-day moving average price of $213.84. The company has a market cap of $3.62 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

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

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. Melius Research boosted their target price on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Citigroup reissued a “buy” rating and set a $343.00 price objective (up previously from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. The Goldman Sachs Group boosted their target price on Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. President Capital upped their price target on Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $305.33.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the sale, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This trade represents a 19.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 225,174 shares of company stock worth $58,095,223. Company insiders own 11.64% of the company’s stock.

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.