Dumont & Blake Investment Advisors LLC Has $3.80 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Dumont & Blake Investment Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 50.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,918 shares of the information services provider’s stock after selling 22,978 shares during the period. Alphabet accounts for about 1.0% of Dumont & Blake Investment Advisors LLC’s investment portfolio, making the stock its 16th biggest position. Dumont & Blake Investment Advisors LLC’s holdings in Alphabet were worth $3,801,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Veracity Capital LLC increased its holdings in Alphabet by 7.2% during the 1st quarter. Veracity Capital LLC now owns 19,902 shares of the information services provider’s stock valued at $3,004,000 after purchasing an additional 1,345 shares in the last quarter. Teamwork Financial Advisors LLC increased its holdings in Alphabet by 11.0% during the 1st quarter. Teamwork Financial Advisors LLC now owns 98,044 shares of the information services provider’s stock valued at $14,798,000 after purchasing an additional 9,701 shares in the last quarter. GenTrust LLC acquired a new stake in Alphabet during the 1st quarter valued at $755,000. Horizon Bancorp Inc. IN increased its holdings in Alphabet by 4.1% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,193 shares of the information services provider’s stock valued at $331,000 after purchasing an additional 87 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC increased its holdings in Alphabet by 32.9% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 99,625 shares of the information services provider’s stock valued at $15,036,000 after purchasing an additional 24,672 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOGL opened at $176.51 on Thursday. 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 stock’s 50-day simple moving average is $162.86 and its 200 day simple moving average is $169.36. The company has a market cap of $2.17 trillion, a P/E ratio of 23.41, a P/E/G ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its 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. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOOGL shares. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the transaction, the director now owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This represents a 0.00 % 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, SVP Prabhakar Raghavan sold 34,257 shares of the company’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 value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 232,052 shares of company stock valued at $38,424,448 over the last 90 days. 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.