Chase Investment Counsel Corp Acquires 110 Shares of Alphabet Inc. (NASDAQ:GOOG)

Chase Investment Counsel Corp boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,353 shares of the information services provider’s stock after buying an additional 110 shares during the quarter. Chase Investment Counsel Corp’s holdings in Alphabet were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the 2nd quarter valued at about $37,000. HWG Holdings LP bought a new position in shares of Alphabet during the 2nd quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. grew its stake in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP bought a new stake in Alphabet during the 2nd quarter worth approximately $44,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOG. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Scotiabank initiated coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group raised their target price 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. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Up 0.7 %

GOOG stock opened at $183.32 on Wednesday. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s fifty day moving average is $165.75 and its 200 day moving average is $171.50. The firm has a market cap of $2.24 trillion, a PE ratio of 24.31, a P/E/G ratio of 1.28 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,752 shares of company stock worth $40,156,829 in the last 90 days. Insiders own 12.99% 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.