Managed Asset Portfolios LLC Purchases 1,602 Shares of Alphabet Inc. (NASDAQ:GOOG)

Managed Asset Portfolios LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,022 shares of the information services provider’s stock after buying an additional 1,602 shares during the quarter. Managed Asset Portfolios LLC’s holdings in Alphabet were worth $6,691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Baltimore Washington Financial Advisors Inc. boosted its position in shares of Alphabet by 0.8% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 211,486 shares of the information services provider’s stock worth $35,358,000 after acquiring an additional 1,583 shares during the last quarter. Wescott Financial Advisory Group LLC lifted its stake in Alphabet by 5.1% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,843 shares of the information services provider’s stock worth $308,000 after purchasing an additional 89 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Alphabet by 1.2% during the 3rd quarter. Penserra Capital Management LLC now owns 12,240 shares of the information services provider’s stock valued at $2,046,000 after purchasing an additional 147 shares during the last quarter. StoneX Group Inc. lifted its position in shares of Alphabet by 3.2% in the third quarter. StoneX Group Inc. now owns 21,491 shares of the information services provider’s stock worth $3,593,000 after buying an additional 659 shares in the last quarter. Finally, WESPAC Advisors LLC boosted its stake in Alphabet by 4.9% during the third quarter. WESPAC Advisors LLC now owns 2,602 shares of the information services provider’s stock valued at $435,000 after buying an additional 121 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Down 1.6 %

NASDAQ GOOG opened at $166.57 on Friday. The stock has a market cap of $2.04 trillion, a PE ratio of 22.09, a PEG ratio of 1.18 and a beta of 1.04. The company’s 50-day moving average price is $169.10 and its 200-day moving average price is $171.86. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GOOG shares. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group lifted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 over the last three months. 12.99% of the stock is owned by corporate insiders.

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.