Joel Isaacson & Co. LLC Purchases 17,386 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Joel Isaacson & Co. LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 477,201 shares of the information services provider’s stock after acquiring an additional 17,386 shares during the period. Alphabet accounts for about 3.8% of Joel Isaacson & Co. LLC’s investment portfolio, making the stock its 8th biggest holding. Joel Isaacson & Co. LLC’s holdings in Alphabet were worth $79,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tarbox Family Office Inc. increased its holdings in shares of Alphabet by 10.2% in the third quarter. Tarbox Family Office Inc. now owns 5,403 shares of the information services provider’s stock valued at $896,000 after buying an additional 499 shares in the last quarter. Sigma Investment Counselors Inc. lifted its position in shares of Alphabet by 2.0% in the third quarter. Sigma Investment Counselors Inc. now owns 38,670 shares of the information services provider’s stock worth $6,413,000 after purchasing an additional 760 shares in the last quarter. BayBridge Capital Group LLC boosted its stake in shares of Alphabet by 19.4% during the 3rd quarter. BayBridge Capital Group LLC now owns 12,011 shares of the information services provider’s stock valued at $1,992,000 after buying an additional 1,949 shares during the period. Pettinga Financial Advisors LLC grew its stake in shares of Alphabet by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after buying an additional 201 shares in the last quarter. Finally, Mediolanum International Funds Ltd boosted its holdings in Alphabet by 0.9% in the third quarter. Mediolanum International Funds Ltd now owns 1,050,909 shares of the information services provider’s stock worth $172,011,000 after purchasing an additional 9,223 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 4.0 %

GOOGL opened at $176.51 on Thursday. The firm has a market cap of $2.17 trillion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business has a 50 day moving average price of $162.86 and a 200 day moving average price of $169.36. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the business earned $1.55 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,052 shares of company stock worth $38,424,448 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Guggenheim lifted their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. TD Securities upped their price objective on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Roth Mkm increased their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. KeyCorp boosted their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.90.

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.