Noesis Capital Mangement Corp Acquires 16,283 Shares of Alphabet Inc. (NASDAQ:GOOG)

Noesis Capital Mangement Corp raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 176,782 shares of the information services provider’s stock after acquiring an additional 16,283 shares during the quarter. Alphabet makes up about 5.9% of Noesis Capital Mangement Corp’s portfolio, making the stock its largest holding. Noesis Capital Mangement Corp’s holdings in Alphabet were worth $29,556,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GOOG. Quent Capital LLC grew its position in shares of Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after buying an additional 1,798 shares during the last quarter. Beck Bode LLC boosted its holdings in Alphabet by 23.5% in the first quarter. Beck Bode LLC now owns 63,067 shares of the information services provider’s stock valued at $9,603,000 after acquiring an additional 12,021 shares during the last quarter. Redwood Grove Capital LLC boosted its holdings in Alphabet by 6.1% in the first quarter. Redwood Grove Capital LLC now owns 102,400 shares of the information services provider’s stock valued at $15,591,000 after acquiring an additional 5,900 shares during the last quarter. ARQ Wealth Advisors LLC increased its position in Alphabet by 56.1% during the 1st quarter. ARQ Wealth Advisors LLC now owns 3,083 shares of the information services provider’s stock valued at $469,000 after purchasing an additional 1,108 shares during the period. Finally, Farallon Capital Management LLC raised its holdings in Alphabet by 6.4% during the 1st quarter. Farallon Capital Management LLC now owns 3,337,950 shares of the information services provider’s stock worth $508,236,000 after purchasing an additional 199,410 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GOOG shares. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

GOOG opened at $170.82 on Thursday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. 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 firm has a 50-day moving average of $169.71 and a 200 day moving average of $171.85. The firm has a market cap of $2.09 trillion, a P/E ratio of 22.66, a PEG ratio of 1.18 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. On average, research analysts expect that Alphabet Inc. will post 8.02 EPS for the current 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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $5,136,807.48. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % 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 in the last ninety days. 12.99% of the stock is owned by company 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.