17 Capital Partners LLC Purchases 800 Shares of Alphabet Inc. (NASDAQ:GOOGL)

17 Capital Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the third quarter, HoldingsChannel.com reports. The firm owned 19,985 shares of the information services provider’s stock after buying an additional 800 shares during the quarter. Alphabet accounts for approximately 2.2% of 17 Capital Partners LLC’s investment portfolio, making the stock its 4th biggest holding. 17 Capital Partners LLC’s holdings in Alphabet were worth $3,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares in the last quarter. Capital Research Global Investors increased its position in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Capital World Investors raised its holdings in Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Loop Capital upped their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler reissued an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Sanford C. Bernstein upped their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Down 1.7 %

Shares of NASDAQ GOOGL opened at $164.76 on Friday. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a PEG ratio of 1.19 and a beta of 1.03. The stock’s fifty day moving average is $167.64 and its 200 day moving average is $170.35. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm earned $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 over the last three months. Insiders own 11.55% of the company’s stock.

About Alphabet

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.