Quadrant Private Wealth Management LLC Acquires 1,112 Shares of Alphabet Inc. $GOOGL

Quadrant Private Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 19,578 shares of the information services provider's stock after purchasing an additional 1,112 shares during the period. Quadrant Private Wealth Management LLC's holdings in Alphabet were worth $3,450,000 as of its most recent SEC filing.

• Alphabet: Buffett's Bet on Its Next Phase of Growth

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gimbal Financial raised its position in Alphabet by 1.9% in the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider's stock valued at $489,000 after buying an additional 53 shares during the last quarter. Missouri Trust & Investment Co grew its stake in shares of Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after acquiring an additional 55 shares in the last quarter. Silver Coast Investments LLC raised its holdings in shares of Alphabet by 1.3% in the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider's stock valued at $761,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC lifted its position in shares of Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock valued at $1,141,000 after purchasing an additional 57 shares in the last quarter. Finally, Bfsg LLC boosted its holdings in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after purchasing an additional 59 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $330.00 price objective (up previously from $285.00) on shares of Alphabet in a research note on Thursday, October 30th. Citizens Jmp upped their target price on Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, September 19th. UBS Group reaffirmed a "neutral" rating and set a $306.00 price target (up from $255.00) on shares of Alphabet in a research report on Thursday, October 30th. China Renaissance boosted their price objective on Alphabet from $207.00 to $330.00 and gave the stock a "buy" rating in a research report on Friday, October 31st. Finally, Truist Financial raised their target price on Alphabet from $285.00 to $320.00 and gave the company a "buy" rating in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $305.33.

• Buffett Trims Apple, Bets Big on Alphabet Ahead of Retirement

Get Our Latest Report on GOOGL

Alphabet Stock Up 3.0%

GOOGL stock opened at $292.81 on Thursday. The stock has a fifty day moving average of $260.23 and a 200-day moving average of $211.57. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $303.81. The company has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

• Disney Stock Drops—Will Earnings Pave Way for a YouTube TV Truce?

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for 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, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.28%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company's stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares of the company's stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 192,674 shares of company stock worth $48,454,423. Corporate insiders own 11.64% of the company's stock.

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.

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