Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Cohen Capital Management Inc.

Cohen Capital Management Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the third quarter, Holdings Channel reports. The institutional investor owned 70,642 shares of the information services provider’s stock after buying an additional 1,380 shares during the period. Alphabet makes up 1.9% of Cohen Capital Management Inc.’s portfolio, making the stock its 15th biggest holding. Cohen Capital Management Inc.’s holdings in Alphabet were worth $11,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MorganRosel Wealth Management LLC lifted its stake in shares of Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares during the last quarter. Hengehold Capital Management LLC raised its holdings in Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. First PREMIER Bank boosted its holdings in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares during the period. Finally, MKT Advisors LLC grew its position in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.8 %

Shares of NASDAQ GOOGL opened at $172.49 on Friday. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The business’s 50 day moving average is $165.61 and its two-hundred day moving average is $170.13. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the company earned $1.55 EPS. Research analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,471,141 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOOGL shares. Wedbush restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Royal Bank of Canada lifted their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.