McIlrath & Eck LLC Has $1.64 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

McIlrath & Eck LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,867 shares of the information services provider’s stock after selling 580 shares during the period. McIlrath & Eck LLC’s holdings in Alphabet were worth $1,636,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP acquired a new position in Alphabet in the third quarter worth approximately $32,000. Kings Path Partners LLC bought a new position in Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP bought a new stake in Alphabet in the second quarter worth approximately $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. KeyCorp boosted their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.69.

Alphabet Stock Down 3.6 %

Shares of NASDAQ GOOGL opened at $188.40 on Thursday. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42. 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 business has a fifty day moving average of $173.46 and a two-hundred day moving average of $171.09. The stock has a market cap of $2.31 trillion, a PE ratio of 24.99, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company posted $1.55 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,802 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the sale, the insider now directly owns 43,999 shares of the company’s stock, valued at $7,280,514.53. This represents a 27.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the transaction, the director now owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This trade represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock valued at $31,358,687 in the last three months. 11.55% of the stock is owned by corporate insiders.

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.