Cable Hill Partners LLC Buys 573 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cable Hill Partners LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,380 shares of the information services provider’s stock after acquiring an additional 573 shares during the period. Cable Hill Partners LLC’s holdings in Alphabet were worth $1,568,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Alphabet by 360.1% during the 1st 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 in the last quarter. Quent Capital LLC grew its holdings in shares of Alphabet by 5.8% during the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after purchasing an additional 1,798 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Alphabet by 19.0% during the first quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after buying an additional 13,756 shares in the last quarter. Elite Life Management LLC raised its position in Alphabet by 2.9% in the first quarter. Elite Life Management LLC now owns 4,015 shares of the information services provider’s stock valued at $611,000 after purchasing an additional 115 shares during the last quarter. Finally, Landaas & Co. WI ADV acquired a new position in shares of Alphabet during the first quarter worth $211,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOOG shares. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Oppenheimer increased their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Price Performance

Shares of Alphabet stock opened at $180.49 on Thursday. The stock has a market cap of $2.21 trillion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The stock has a 50 day moving average price of $165.75 and a 200-day moving average price of $171.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred 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 owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s 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 completion of the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on 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 directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,495 shares of company stock valued at $34,586,641 in the last three months. 12.99% 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.