Anchor Investment Management LLC Has $16.51 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Anchor Investment Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,520 shares of the information services provider’s stock after buying an additional 5,267 shares during the period. Alphabet comprises about 1.6% of Anchor Investment Management LLC’s portfolio, making the stock its 12th biggest holding. Anchor Investment Management LLC’s holdings in Alphabet were worth $16,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tudor Financial Inc. acquired a new stake in shares of Alphabet in the third quarter valued at about $216,000. Te Ahumairangi Investment Management Ltd boosted its holdings in Alphabet by 19.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider’s stock valued at $22,703,000 after acquiring an additional 22,169 shares during the last quarter. SkyView Investment Advisors LLC increased its position in Alphabet by 6.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider’s stock valued at $382,000 after purchasing an additional 130 shares during the period. SOA Wealth Advisors LLC. raised its holdings in Alphabet by 0.5% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider’s stock worth $6,199,000 after purchasing an additional 202 shares during the last quarter. Finally, Passumpsic Savings Bank lifted its position in shares of Alphabet by 38.0% in the 3rd quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider’s stock worth $779,000 after purchasing an additional 1,294 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GOOGL shares. Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. BMO Capital Markets restated an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Truist Financial lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.69.

Alphabet Stock Performance

GOOGL stock opened at $188.40 on Thursday. The business has a 50 day moving average of $173.46 and a 200-day moving average of $171.09. The firm has a market cap of $2.31 trillion, a PE ratio of 24.99, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s payout ratio is 10.61%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,802 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the sale, the insider now directly owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. This represents a 27.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at $4,590,960. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,957 shares of company stock worth $31,358,687. Corporate insiders own 11.55% of the company’s stock.

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.