Great Lakes Retirement Inc. Raises Stake in Alphabet Inc. $GOOGL

Great Lakes Retirement Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,408 shares of the information services provider’s stock after buying an additional 2,058 shares during the quarter. Alphabet comprises 2.6% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 8th largest holding. Great Lakes Retirement Inc.’s holdings in Alphabet were worth $22,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares in the last quarter. Smart Money Group LLC raised its holdings in Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after acquiring an additional 532 shares in the last quarter. TradeWell Securities LLC. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $254,000. Finally, Silphium Asset Management Ltd grew its holdings in shares of Alphabet by 20.2% during the 1st quarter. Silphium Asset Management Ltd now owns 21,950 shares of the information services provider’s stock worth $3,394,000 after purchasing an additional 3,696 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.6%

Shares of GOOGL stock opened at $286.71 on Thursday. The company has a market capitalization of $3.46 trillion, a P/E ratio of 28.28, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $292.01. 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 firm has a 50-day moving average price of $255.49 and a 200 day moving average price of $207.29.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent research reports. Morgan Stanley upped their target price on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Canaccord Genuity Group boosted their price target on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Evercore ISI increased their price objective on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Mizuho set a $325.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, CIBC upped their target price on shares of Alphabet to $315.00 in a research note on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $304.10.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% 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 hyperlink. Also, 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 owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 221,796 shares of company stock worth $53,983,001. 11.55% of the stock is currently owned by insiders.

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.