Alphabet Inc. (NASDAQ:GOOGL) Position Lifted by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 19.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 137,669 shares of the information services provider’s stock after purchasing an additional 22,169 shares during the period. Alphabet comprises approximately 4.0% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 4th largest position. Te Ahumairangi Investment Management Ltd’s holdings in Alphabet were worth $22,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. SkyView Investment Advisors LLC grew its holdings in shares of Alphabet by 6.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider’s stock worth $382,000 after buying an additional 130 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in Alphabet by 0.5% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider’s stock worth $6,199,000 after acquiring an additional 202 shares during the period. Passumpsic Savings Bank grew its stake in shares of Alphabet by 38.0% in the 3rd quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider’s stock valued at $779,000 after purchasing an additional 1,294 shares during the last quarter. Discipline Wealth Solutions LLC acquired a new position in shares of Alphabet in the third quarter valued at approximately $630,000. Finally, Unigestion Holding SA raised its stake in shares of Alphabet by 550.1% during the third quarter. Unigestion Holding SA now owns 92,199 shares of the information services provider’s stock worth $15,291,000 after purchasing an additional 78,017 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 3.6 %

Shares of GOOGL stock opened at $188.40 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The firm’s 50 day moving average price is $173.46 and its two-hundred day moving average price is $171.09. The stock has a market cap of $2.31 trillion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results 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 net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the sale, the insider now owns 43,999 shares of the company’s stock, valued at $7,280,514.53. The trade was a 27.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares in the company, valued at $4,590,960. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,957 shares of company stock worth $31,358,687. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Truist Financial increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America raised their price target on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Tigress Financial increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Seven equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.69.

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.