Alphabet Inc. $GOOGL Shares Newly Acquired by TTP Investments Inc.

TTP Investments Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,983 shares of the information services provider’s stock, valued at approximately $3,435,000. Alphabet accounts for about 1.4% of TTP Investments Inc.’s holdings, making the stock its 10th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the company. Watershed Private Wealth LLC raised its holdings in Alphabet by 300.6% during the third quarter. Watershed Private Wealth LLC now owns 5,284 shares of the information services provider’s stock worth $1,818,000 after purchasing an additional 3,965 shares in the last quarter. Integrity Advisory Solutions LLC lifted its holdings in shares of Alphabet by 11.8% during the third quarter. Integrity Advisory Solutions LLC now owns 8,126 shares of the information services provider’s stock worth $2,796,000 after purchasing an additional 860 shares during the period. Reston Wealth Management LLC increased its position in Alphabet by 2.4% during the 3rd quarter. Reston Wealth Management LLC now owns 5,178 shares of the information services provider’s stock worth $1,782,000 after purchasing an additional 119 shares during the period. Mountain Pacific Investment Advisers LLC raised its position in Alphabet by 31.0% in the third quarter. Mountain Pacific Investment Advisers LLC now owns 1,843 shares of the information services provider’s stock worth $634,000 after acquiring an additional 436 shares in the last quarter. Finally, Summa Corp. lifted its stake in shares of Alphabet by 14.6% in the third quarter. Summa Corp. now owns 11,378 shares of the information services provider’s stock valued at $3,915,000 after purchasing an additional 1,450 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 2.1%

NASDAQ:GOOGL opened at $293.45 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. Alphabet Inc. has a one year low of $270.70 and a one year high of $408.61. The business’s 50-day simple moving average is $329.89 and its 200 day simple moving average is $338.38. The stock has a market cap of $3.61 trillion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 0.87 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.90). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 19.81 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s dividend payout ratio (DPR) is presently 4.59%.

Recent Alphabet Headlines

Investors following GOOGL have been watching these headlines:

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. Yorkville Ives began coverage on shares of Alphabet in a research report on Monday, October 5th. They issued an “outperform” rating and a $400.00 price target on the stock. Tigress Financial reaffirmed a “strong-buy” rating and set a $485.00 price target (up from $415.00) on shares of Alphabet in a research report on Thursday, September 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $375.00 price target (down from $400.00) on shares of Alphabet in a research note on Thursday, October 29th. Royal Bank Of Canada cut their target price on Alphabet from $425.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, October 29th. Finally, Freedom Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $412.51.

Get Our Latest Stock Report on GOOGL

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the transaction, the director directly owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 247 shares of company stock valued at $79,238. Insiders own 11.61% of the company’s stock.

Alphabet Profile

(Free Report)

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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