Hilltop Partners LLC Has $2.81 Million Stock Holdings in Alphabet Inc. $GOOGL

Hilltop Partners LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,935 shares of the information services provider’s stock after purchasing an additional 2,557 shares during the quarter. Alphabet makes up approximately 0.8% of Hilltop Partners LLC’s holdings, making the stock its 22nd biggest holding. Hilltop Partners LLC’s holdings in Alphabet were worth $2,808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its stake in shares of Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after acquiring an additional 6,733,278 shares during the last quarter. State Street Corp increased its holdings in Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC raised its position in Alphabet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock valued at $24,857,017,000 after purchasing an additional 4,224,497 shares during the last quarter. Norges Bank acquired a new position in Alphabet in the second quarter worth $21,944,208,000. Finally, Invesco Ltd. grew its holdings in shares of Alphabet by 1.2% during the second quarter. Invesco Ltd. now owns 44,151,820 shares of the information services provider’s stock worth $7,780,875,000 after purchasing an additional 503,306 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOGL opened at $309.29 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The stock has a market cap of $3.73 trillion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. The stock’s 50-day moving average price is $283.14 and its two-hundred day moving average price is $229.97.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In related news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total transaction of $302,418.00. Following the sale, the chief accounting officer owned 11,740 shares of the company’s stock, valued at approximately $3,721,580. This trade represents a 7.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 222,750 shares of company stock worth $60,496,098 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOGL shares. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $365.00 target price (up from $330.00) on shares of Alphabet in a research note on Thursday. Needham & Company LLC upped their target price on shares of Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Morgan Stanley upped their price target on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $314.22.

About Alphabet

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.