Miller Investment Management LP Has $14.44 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Miller Investment Management LP boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,093 shares of the information services provider's stock after buying an additional 12,804 shares during the period. Alphabet makes up 1.5% of Miller Investment Management LP's investment portfolio, making the stock its 20th biggest holding. Miller Investment Management LP's holdings in Alphabet were worth $14,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC raised its position in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider's stock worth $8,268,933,000 after buying an additional 1,237,385 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider's stock worth $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock valued at $6,175,106,000 after acquiring an additional 523,416 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider's stock valued at $4,274,184,000 after acquiring an additional 418,204 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Alphabet by 9.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider's stock valued at $4,237,426,000 after acquiring an additional 1,949,476 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Sanford C. Bernstein upped their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Evercore ISI raised their price target on Alphabet from $200.00 to $205.00 and gave the company an "outperform" 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. Finally, Seaport Res Ptn raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $206.08.

Read Our Latest Analysis on GOOGL

Alphabet Stock Performance

Shares of GOOGL traded down $2.14 during trading hours on Friday, hitting $189.82. The stock had a trading volume of 25,143,495 shares, compared to its average volume of 27,397,740. The firm has a market capitalization of $2.32 trillion, a PE ratio of 25.18, a PEG ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12 month low of $129.68 and a 12 month high of $195.61. The stock has a fifty day moving average price of $171.63 and a 200 day moving average price of $170.67.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. During the same period last year, the firm earned $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet's dividend payout ratio is currently 10.61%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares of the company's stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,623 shares of company stock worth $34,413,006. 11.55% of the stock is currently 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.

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