Alphabet Inc. $GOOGL Stock Purchased by Lyell Wealth Management LP

Lyell Wealth Management LP increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.4% in the third quarter, HoldingsChannel.com reports. The firm owned 193,231 shares of the information services provider’s stock after buying an additional 9,915 shares during the period. Alphabet accounts for approximately 3.9% of Lyell Wealth Management LP’s portfolio, making the stock its 4th largest holding. Lyell Wealth Management LP’s holdings in Alphabet were worth $66,487,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Associated Banc Corp acquired a new stake in shares of Alphabet in the third quarter valued at $216,551,000. Guardian Wealth Advisors LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at $278,000. TTP Investments Inc. purchased a new stake in shares of Alphabet in the 3rd quarter valued at $3,435,000. Watershed Private Wealth LLC lifted its stake in Alphabet by 300.6% during the 3rd quarter. Watershed Private Wealth LLC now owns 5,284 shares of the information services provider’s stock worth $1,818,000 after acquiring an additional 3,965 shares in the last quarter. Finally, Integrity Advisory Solutions LLC lifted its stake in Alphabet by 11.8% during the 3rd quarter. Integrity Advisory Solutions LLC now owns 8,126 shares of the information services provider’s stock worth $2,796,000 after acquiring an additional 860 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet News Roundup

Here’s some of the latest news about GOOGL:

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 83 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the transaction, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 247 shares of company stock valued at $79,238 in the last 90 days. Corporate insiders own 11.61% of the company’s stock.

Alphabet Trading Up 2.1%

GOOGL opened at $293.45 on Thursday. Alphabet Inc. has a one year low of $270.70 and a one year high of $408.61. The company has a market cap of $3.61 trillion, a P/E ratio of 15.32, a PEG ratio of 0.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. The business’s 50-day simple moving average is $329.89 and its 200-day simple moving average is $338.38.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.02 by ($0.90). The business had revenue of $127.58 billion for the quarter, compared to analyst estimates of $127.96 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. As a group, equities research analysts expect that Alphabet Inc. will post 19.81 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s dividend payout ratio is currently 4.59%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. DA Davidson lowered their target price on Alphabet from $350.00 to $300.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. Tigress Financial reiterated a “strong-buy” rating and set a $485.00 price target (up from $415.00) on shares of Alphabet in a research note on Thursday, September 17th. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 27th. Citigroup reduced their price target on shares of Alphabet from $447.00 to $375.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Finally, KeyCorp lowered their price objective on shares of Alphabet from $410.00 to $385.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus price target of $412.51.

Get Our Latest Report on GOOGL

Alphabet Profile

(Free Report)

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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