Davis Rea LTD. Purchases 19,828 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Davis Rea LTD. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,519 shares of the information services provider’s stock after acquiring an additional 19,828 shares during the period. Alphabet comprises 7.4% of Davis Rea LTD.’s investment portfolio, making the stock its 4th biggest holding. Davis Rea LTD.’s holdings in Alphabet were worth $17,003,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after purchasing an additional 41,880 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after buying an additional 1,072 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. grew its position in shares of Alphabet by 9.0% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 15,356 shares of the information services provider’s stock valued at $2,318,000 after buying an additional 1,268 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Alphabet by 1.2% in the first quarter. Proficio Capital Partners LLC now owns 37,256 shares of the information services provider’s stock valued at $5,623,000 after acquiring an additional 431 shares in the last quarter. Finally, CapWealth Advisors LLC grew its holdings in shares of Alphabet by 2,209.9% during the first quarter. CapWealth Advisors LLC now owns 39,246 shares of the information services provider’s stock worth $5,923,000 after purchasing an additional 37,547 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $181.62 on Wednesday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The stock has a market cap of $2.22 trillion, a P/E ratio of 24.09, a PEG ratio of 1.27 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 company has a 50-day moving average of $163.88 and a two-hundred day moving average of $169.91.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the firm posted $1.55 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,752 shares of company stock worth $40,156,829. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOGL. Sanford C. Bernstein upped their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their target price on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Roth Mkm lifted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note 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 issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

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.