Carl P. Sherr & Co. LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Carl P. Sherr & Co. LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,764 shares of the information services provider’s stock after purchasing an additional 510 shares during the period. Alphabet accounts for 1.1% of Carl P. Sherr & Co. LLC’s portfolio, making the stock its 21st biggest position. Carl P. Sherr & Co. LLC’s holdings in Alphabet were worth $2,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of GOOG. FMR LLC boosted its stake in shares of Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after purchasing an additional 3,113,395 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Alphabet by 65.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after purchasing an additional 2,500,621 shares during the last quarter. Granite Bay Wealth Management LLC raised its position in shares of Alphabet by 6,610.0% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock worth $301,312,000 after purchasing an additional 1,742,794 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Alphabet by 27.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock worth $1,375,512,000 after purchasing an additional 1,632,691 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.1 %

Shares of NASDAQ:GOOG opened at $170.82 on Friday. The company has a market cap of $2.09 trillion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.19 and a beta of 1.04. The firm’s 50-day simple moving average is $169.86 and its 200-day simple moving average is $171.84. 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 $129.40 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued 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. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Analysts Set New Price Targets

A number of analysts have commented on GOOG shares. Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. UBS Group increased their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup increased their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. Corporate insiders own 12.99% 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.