Great Valley Advisor Group Inc. Has $33.03 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Great Valley Advisor Group Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 197,562 shares of the information services provider’s stock after purchasing an additional 15,641 shares during the quarter. Alphabet comprises 0.8% of Great Valley Advisor Group Inc.’s holdings, making the stock its 21st biggest position. Great Valley Advisor Group Inc.’s holdings in Alphabet were worth $33,031,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. lifted its position in Alphabet by 360.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after purchasing an additional 15,848 shares during the period. Quent Capital LLC increased its stake in shares of Alphabet by 5.8% in the first quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after buying an additional 1,798 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Alphabet by 27.1% in the first quarter. Advisors Asset Management Inc. now owns 10,645 shares of the information services provider’s stock valued at $1,621,000 after buying an additional 2,269 shares in the last quarter. London & Capital Asset Management Ltd increased its stake in shares of Alphabet by 14.7% in the first quarter. London & Capital Asset Management Ltd now owns 294,559 shares of the information services provider’s stock valued at $44,850,000 after buying an additional 37,722 shares in the last quarter. Finally, Talisman Wealth Advisors LLC increased its stake in shares of Alphabet by 7.8% in the first quarter. Talisman Wealth Advisors LLC now owns 2,509 shares of the information services provider’s stock valued at $382,000 after buying an additional 181 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOG. Oppenheimer raised their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Citigroup lifted their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Down 1.6 %

GOOG stock opened at $166.57 on Friday. 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 firm has a market capitalization of $2.04 trillion, a PE ratio of 22.09, a PEG ratio of 1.18 and a beta of 1.04. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31. The business’s 50 day simple moving average is $169.10 and its 200 day simple moving average is $171.87.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is owned by insiders.

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.