Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 86,135 shares of the information services provider’s stock after acquiring an additional 13,642 shares during the period. Alphabet comprises about 1.4% of Soltis Investment Advisors LLC’s holdings, making the stock its 13th biggest holding. Soltis Investment Advisors LLC’s holdings in Alphabet were worth $14,285,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. First PREMIER Bank raised its position in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after acquiring an additional 61 shares in the last quarter. Cutler Investment Counsel LLC lifted its stake in Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after purchasing an additional 61 shares during the last quarter. MKT Advisors LLC boosted its holdings in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares in the last quarter. Finally, Mendota Financial Group LLC increased its stake in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GOOGL shares. Loop Capital boosted their price objective 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. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Scotiabank upgraded 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 given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $206.69.

Alphabet Stock Performance

NASDAQ GOOGL opened at $188.40 on Thursday. The business has a 50 day moving average price of $173.46 and a 200 day moving average price of $171.09. The company has a market capitalization of $2.31 trillion, a P/E ratio of 24.99, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the business posted $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock valued at $31,358,687 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

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.