Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Howe & Rusling Inc.

Howe & Rusling Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,860 shares of the information services provider’s stock after buying an additional 2,832 shares during the period. Howe & Rusling Inc.’s holdings in Alphabet were worth $12,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its holdings in Alphabet by 360.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after acquiring an additional 15,848 shares during the period. Quent Capital LLC lifted its position in shares of Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after acquiring an additional 1,798 shares in the last quarter. Empowered Funds LLC grew its position in Alphabet by 19.0% during the first quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock valued at $13,100,000 after purchasing an additional 13,756 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of Alphabet in the first quarter worth about $203,000. Finally, CreativeOne Wealth LLC lifted its position in Alphabet by 41.0% during the 1st quarter. CreativeOne Wealth LLC now owns 16,530 shares of the information services provider’s stock worth $2,516,000 after acquiring an additional 4,809 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup lifted their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,295 shares of company stock valued at $30,698,791 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $179.58 on Wednesday. The stock’s fifty day moving average is $168.15 and its two-hundred day moving average is $171.87. The company has a market capitalization of $2.20 trillion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. 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 (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the firm earned $1.55 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.