Bay Rivers Group Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Bay Rivers Group raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,163 shares of the information services provider’s stock after purchasing an additional 354 shares during the period. Alphabet accounts for 2.2% of Bay Rivers Group’s holdings, making the stock its 19th biggest position. Bay Rivers Group’s holdings in Alphabet were worth $4,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Andina Capital Management LLC boosted its stake in shares of Alphabet by 7.1% in the third quarter. Andina Capital Management LLC now owns 2,397 shares of the information services provider’s stock worth $398,000 after acquiring an additional 159 shares during the last quarter. Davidson Capital Management Inc. lifted its holdings in Alphabet by 3.3% in the 3rd quarter. Davidson Capital Management Inc. now owns 18,932 shares of the information services provider’s stock valued at $3,140,000 after purchasing an additional 598 shares in the last quarter. Vista Finance LLC boosted its stake in Alphabet by 39.7% during the 3rd quarter. Vista Finance LLC now owns 1,760 shares of the information services provider’s stock worth $292,000 after purchasing an additional 500 shares during the last quarter. PBMares Wealth Management LLC grew its holdings in shares of Alphabet by 2.9% during the third quarter. PBMares Wealth Management LLC now owns 5,133 shares of the information services provider’s stock worth $851,000 after buying an additional 146 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Alphabet by 2.2% in the third quarter. Farmers & Merchants Investments Inc. now owns 164,772 shares of the information services provider’s stock valued at $27,327,000 after buying an additional 3,522 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.3 %

NASDAQ:GOOGL opened at $178.35 on Monday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The firm has a market cap of $2.18 trillion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $163.54 and a 200 day moving average price of $169.67.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the business posted $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Evercore ISI increased their price target on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Mizuho raised their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,752 shares of company stock worth $40,156,829. 11.55% of the stock is currently 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.