3Chopt Investment Partners LLC Purchases 5,495 Shares of Alphabet Inc. $GOOGL

Key Points

• 3Chopt Investment Partners increased its Alphabet stake by 43.3% in the third quarter, buying 5,495 shares to hold 18,192 shares worth about $6.26 million.
• Institutional investors own 40.03% of Alphabet, and analysts’ consensus rating is Buy, with an average price target of $412.51.
• Alphabet’s latest quarter fell short of expectations: EPS was $2.12 versus a $3.02 consensus, and revenue was $127.58 billion versus $127.96 billion expected.

3Chopt Investment Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 43.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,192 shares of the information services provider's stock after buying an additional 5,495 shares during the quarter. Alphabet makes up 1.1% of 3Chopt Investment Partners LLC's investment portfolio, making the stock its 15th largest holding. 3Chopt Investment Partners LLC's holdings in Alphabet were worth $6,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Team Financial Group LLC acquired a new stake in Alphabet during the 3rd quarter worth approximately $175,000. Focused Wealth Management Inc lifted its holdings in shares of Alphabet by 10.8% during the third quarter. Focused Wealth Management Inc now owns 57,239 shares of the information services provider's stock worth $19,695,000 after purchasing an additional 5,581 shares during the period. Mraz Amerine & Associates Inc. grew its position in Alphabet by 6.7% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 1,603 shares of the information services provider's stock valued at $552,000 after buying an additional 100 shares during the last quarter. Rakuten Investment Management Inc. grew its position in Alphabet by 10.8% in the 3rd quarter. Rakuten Investment Management Inc. now owns 1,240,497 shares of the information services provider's stock valued at $422,910,000 after buying an additional 120,600 shares during the last quarter. Finally, Serenity Investment Advisors grew its position in Alphabet by 2.3% in the 3rd quarter. Serenity Investment Advisors now owns 3,442 shares of the information services provider's stock valued at $1,184,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GOOGL shares. Pivotal Research reissued a "buy" rating and issued a $475.00 price objective (up from $470.00) on shares of Alphabet in a research note on Thursday, July 23rd. Moffett Nathanson set a $345.00 target price on shares of Alphabet in a research note on Thursday, October 29th. Yorkville Ives assumed coverage on shares of Alphabet in a report on Monday, October 5th. They issued an "outperform" rating and a $400.00 target price on the stock. Roth Capital reiterated a "buy" rating and set a $440.00 price target (up from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Finally, KeyCorp cut their price target on shares of Alphabet from $410.00 to $385.00 and set an "overweight" rating for the company in a report on Thursday, October 29th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $412.51.

Key Headlines Impacting Alphabet

These are some of the GOOGL headlines that stood out recently:

• Positive Sentiment: Recent coverage points to Google Cloud’s growth and Alphabet’s AI investments as potential long-term drivers. Berkshire Hathaway has also built a sizable Alphabet position, buying more than 60 million shares since Greg Abel became CEO, a notable vote of confidence. Warren Buffett's Successor, Greg Abel, Has Nearly $110 Billion Invested in These 2 Tech Stocks
• Neutral Sentiment: Alphabet is reportedly planning its first Hong Kong- and Singapore-dollar bond sale. The deal could diversify its funding, though investors may also watch how borrowing fits with already elevated AI infrastructure spending. Alphabet Eyes Bond Sales
• Negative Sentiment: Investors remain concerned that heavy AI data-center spending could weigh on cash flow, even as the underlying cloud and advertising businesses remain attractive. This could limit near-term enthusiasm if returns on the investment take time to materialize. Alphabet: Punished For Its Cash Flow, Not Its Business

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 83 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the sale, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This represents a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 247 shares of company stock valued at $79,238. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $298.70 on Friday. The firm has a market capitalization of $3.67 trillion, a PE ratio of 15.32, a P/E/G ratio of 0.88 and a beta of 1.23. Alphabet Inc. has a 52 week low of $270.70 and a 52 week high of $408.61. The firm's 50-day simple moving average is $329.12 and its 200 day simple moving average is $338.21. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The business had revenue of $127.58 billion for the quarter, compared to analysts' expectations of $127.96 billion. On average, equities research analysts predict that Alphabet Inc. will post 19.81 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is presently 4.59%.

About Alphabet

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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