Townsquare Capital LLC Acquires 44,034 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Townsquare Capital LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 475,232 shares of the information services provider's stock after buying an additional 44,034 shares during the period. Alphabet comprises approximately 0.9% of Townsquare Capital LLC's investment portfolio, making the stock its 20th biggest holding. Townsquare Capital LLC's holdings in Alphabet were worth $78,817,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after acquiring an additional 60 shares during the period. LMR Partners LLP purchased a new stake in Alphabet in the third quarter valued at $32,000. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter valued at $36,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter valued at $41,000. Finally, Quarry LP purchased a new stake in Alphabet in the second quarter valued at $53,000. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $9.80 during trading on Tuesday, reaching $185.17. The company had a trading volume of 53,451,558 shares, compared to its average volume of 27,202,518. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business's 50 day moving average price is $169.70 and its 200-day moving average price is $170.21. The stock has a market cap of $2.27 trillion, a PE ratio of 24.56, a PEG ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business earned $1.55 EPS. Analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed 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 yield of 0.43%. Alphabet's payout ratio is 10.61%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company's stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 1,367 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 160,789 shares of company stock valued at $27,374,143. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. Roth Mkm upped their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. BMO Capital Markets reissued an "outperform" rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. JMP Securities increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 30th. Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Loop Capital increased their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $206.03.

Check Out Our Latest Stock Report on GOOGL

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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