SGL Investment Advisors Inc. Invests $1.27 Million in Alphabet Inc. (NASDAQ:GOOGL)

SGL Investment Advisors Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, HoldingsChannel reports. The fund acquired 7,216 shares of the information services provider’s stock, valued at approximately $1,267,000.

A number of other hedge funds also recently bought and sold shares of GOOGL. Schear Investment Advisers LLC lifted its stake in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC increased its stake in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the period. Landscape Capital Management L.L.C. lifted its position in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares during the last quarter. abrdn plc boosted its stake in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. grew its holdings in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 3.6 %

Alphabet stock opened at $196.66 on Tuesday. Alphabet Inc. has a one year low of $130.66 and a one year high of $199.00. The business’s fifty day moving average is $172.31 and its 200 day moving average is $170.80. The stock has a market capitalization of $2.41 trillion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the firm posted $1.55 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Robert W. Baird reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.08.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,623 shares of company stock valued at $34,413,006 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

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.