Eleva Capital SAS Takes Position in Alphabet Inc. $GOOGL

Eleva Capital SAS acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, HoldingsChannel.com reports. The fund acquired 17,141 shares of the information services provider’s stock, valued at approximately $3,021,000. Alphabet accounts for 0.7% of Eleva Capital SAS’s portfolio, making the stock its 11th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in the business. Guardian Wealth Management Inc. boosted its stake in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.8%

Shares of NASDAQ:GOOGL opened at $278.57 on Friday. The company’s fifty day moving average is $256.42 and its two-hundred day moving average is $207.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $292.01. The stock has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 dividend payout ratio (DPR) is 8.28%.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. President Capital increased their price objective on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Daiwa Capital Markets lifted their price target on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Barclays reissued an “overweight” rating and set a $315.00 price objective (up from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. Wolfe Research reaffirmed an “outperform” rating and issued a $350.00 price objective (up from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $300.00 price target (up from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 221,796 shares of company stock worth $53,983,001 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Company 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.