Credit Capital Investments LLC Raises Holdings in Alphabet Inc. $GOOGL

Credit Capital Investments LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,000 shares of the information services provider’s stock after buying an additional 1,000 shares during the period. Alphabet makes up about 6.9% of Credit Capital Investments LLC’s portfolio, making the stock its 5th largest position. Credit Capital Investments LLC’s holdings in Alphabet were worth $4,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Nuveen LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $4,317,606,000. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 3.1% during the second quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after purchasing an additional 4,224,497 shares during the last quarter. Finally, Amundi grew its position in Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 225,174 shares of company stock valued at $58,095,223. Corporate insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $290.00 target price on shares of Alphabet in a research note on Wednesday, October 22nd. Needham & Company LLC raised their target price on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Stifel Nicolaus set a $333.00 price target on shares of Alphabet in a report on Thursday, October 30th. CIBC lifted their price objective on shares of Alphabet to $315.00 in a research report on Monday, October 20th. Finally, Citic Securities increased their target price on shares of Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.84.

Alphabet Trading Up 1.5%

Shares of GOOGL stock opened at $323.44 on Wednesday. The stock has a market capitalization of $3.90 trillion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.86 and a beta of 1.05. The company’s fifty day simple moving average is $265.17 and its two-hundred day simple moving average is $216.20. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

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.