Rossby Financial LCC Boosts Stock Position in Alphabet Inc. $GOOGL

Rossby Financial LCC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,837 shares of the information services provider’s stock after purchasing an additional 327 shares during the quarter. Alphabet makes up approximately 0.6% of Rossby Financial LCC’s investment portfolio, making the stock its 28th largest holding. Rossby Financial LCC’s holdings in Alphabet were worth $1,734,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SYM FINANCIAL Corp grew its position in shares of Alphabet by 8.8% in the 2nd quarter. SYM FINANCIAL Corp now owns 10,302 shares of the information services provider’s stock worth $1,815,000 after buying an additional 834 shares during the last quarter. Facet Wealth Inc. lifted its position in Alphabet by 43.9% during the second quarter. Facet Wealth Inc. now owns 9,217 shares of the information services provider’s stock valued at $1,769,000 after acquiring an additional 2,811 shares during the last quarter. United Capital Management of KS Inc. boosted its stake in Alphabet by 7.7% in the second quarter. United Capital Management of KS Inc. now owns 45,260 shares of the information services provider’s stock valued at $7,976,000 after acquiring an additional 3,229 shares in the last quarter. Liberty Wealth Management LLC grew its holdings in Alphabet by 11.4% in the second quarter. Liberty Wealth Management LLC now owns 12,601 shares of the information services provider’s stock worth $2,231,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Maytree Asset Management Ltd grew its holdings in Alphabet by 123.7% in the second quarter. Maytree Asset Management Ltd now owns 8,500 shares of the information services provider’s stock worth $1,498,000 after purchasing an additional 4,700 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GOOGL shares. Wells Fargo & Company increased their price objective on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Oppenheimer increased their price target on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Bank of America raised their price target on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Barclays restated an “overweight” rating and set a $315.00 price objective (up previously from $250.00) on shares of Alphabet in a report on Thursday, October 30th. Finally, Susquehanna lifted their target price on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $278.83 on Friday. The company has a 50 day simple moving average of $251.23 and a two-hundred day simple moving average of $204.19. The stock has a market cap of $3.37 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. This represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 222,396 shares of company stock valued at $54,105,275 in the last three months. Corporate insiders own 11.64% 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.