InvesTrust Buys Shares of 1,220 Alphabet Inc. (NASDAQ:GOOGL)

InvesTrust purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,220 shares of the information services provider’s stock, valued at approximately $233,000.

A number of other institutional investors also recently modified their holdings of GOOGL. LMR Partners LLP acquired a new stake in shares of Alphabet during the 3rd quarter valued at $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter worth about $36,000. Denver PWM LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $41,000. Quarry LP acquired a new stake in Alphabet during the 2nd quarter worth approximately $53,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Alphabet in the 3rd quarter valued at approximately $66,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GOOGL shares. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. KeyCorp raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Tigress Financial upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Roth Mkm lifted their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, DA Davidson initiated coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $206.82.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded down $0.23 during midday trading on Wednesday, hitting $195.26. 15,558,753 shares of the company’s stock were exchanged, compared to its average volume of 22,048,758. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average price is $181.36 and its two-hundred day moving average price is $172.72. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm earned $1.55 EPS. As a group, research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,406,343.27. The trade was a 9.71 % 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. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total value of $247,425.00. Following the sale, the director now directly owns 26,324 shares in the company, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,887 shares of company stock valued at $27,996,356. Insiders own 11.55% of the company’s stock.

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.