Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Sargent Investment Group LLC

Sargent Investment Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.6% during the third quarter, Holdings Channel.com reports. The firm owned 41,808 shares of the information services provider’s stock after buying an additional 3,990 shares during the period. Alphabet accounts for about 1.2% of Sargent Investment Group LLC’s holdings, making the stock its 20th largest holding. Sargent Investment Group LLC’s holdings in Alphabet were worth $6,934,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOOGL. China Universal Asset Management Co. Ltd. increased its stake in Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after purchasing an additional 41,880 shares during the last quarter. Quent Capital LLC grew its holdings in Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after buying an additional 1,072 shares during the period. Tyro Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter valued at about $8,026,000. Tremblant Capital Group lifted its holdings in shares of Alphabet by 76.1% during the 1st quarter. Tremblant Capital Group now owns 9,415 shares of the information services provider’s stock worth $1,421,000 after acquiring an additional 4,068 shares during the period. Finally, Kestra Advisory Services LLC boosted its position in shares of Alphabet by 9.3% in the first quarter. Kestra Advisory Services LLC now owns 533,158 shares of the information services provider’s stock worth $80,470,000 after acquiring an additional 45,361 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Bank of America lifted their price objective on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $169.23 on Friday. The company has a market cap of $2.07 trillion, a PE ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The firm has a 50-day simple moving average of $168.36 and a 200 day simple moving average of $170.33. 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 earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company earned $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by insiders.

Alphabet 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.