Eaton Financial Holdings Acquires Alphabet Inc. Shares

Eaton Financial Holdings Company LLC has recently made a notable investment in Alphabet Inc. (NASDAQ:GOOGL) by acquiring a total of 24,704 shares in the company during the third quarter. This investment was disclosed in the firm's report to the Securities and Exchange Commission and is valued at around $4,097,000.

With this new position, Alphabet represents approximately 1.7% of Eaton Financial's overall investment portfolio, making it the 18th largest stake within their holdings.

Increased Interest from Other Investors

Other institutional investors have also adjusted their positions in Alphabet in recent months. International Assets Investment Management LLC significantly increased its holdings by a staggering 43,005.6% in the third quarter, resulting in ownership of 18,743,594 shares, valued at $31.09 billion. SG Americas Securities LLC raised its investment by 587.4%, now holding 10,690,326 shares worth $1.77 billion after acquiring an additional 9,135,056 shares.

Furthermore, Assenagon Asset Management S.A. boosted its stake by 116.4%, owning 8,670,225 shares valued at $1.44 billion after a purchase of 4,662,809 shares. Wulff Hansen & Co. experienced an extraordinary increase of 18,810.2% in their position during the second quarter, owning 4,434,260 shares now worth $807.7 million. Also, National Bank of Canada FI lifted its stake by 91.0%, now owning 7,928,470 shares with a value of approximately $1.45 billion. Overall, around 40.03% of Alphabet's stock is currently owned by institutional investors and hedge funds.

Insider Transactions

In related news, insider activity has been noted with CEO Sundar Pichai selling 22,500 shares on October 2 at an average price of $167.07, for a total of $3.76 million. Following this sale, Pichai continues to own 2,129,306 shares valued at about $355.74 million, reflecting a slight 1.05% decrease in his ownership interest.

Additionally, CAO Amie Thuener O'Toole sold 1,367 shares on October 1 at an average price of $168.84, totaling $230,804.28. Thuener O'Toole now holds 29,183 shares valued at approximately $4.93 million, which is a 4.47% decrease in her ownership. In total, insiders have sold 178,957 shares worth about $31.36 million over the last 90 days, making up 11.55% of the total stock ownership.

Analysts Weigh In

Recent analyst activities regarding Alphabet have painted a positive picture for the company's stock. Sanford C. Bernstein raised its price target from $180.00 to $185.00, maintaining a "market perform" rating. Similarly, JPMorgan Chase & Co. increased its target from $212.00 to $232.00, giving the stock an "overweight" rating.

Pivotal Research has also increased its target price from $215.00 to $225.00 with a "buy" rating, and Robert W. Baird reaffirmed an "outperform" rating with a target of $205.00. Piper Sandler adjusted its rating to "overweight" with a $210.00 target (up from $200.00). A total of seven analysts have given Alphabet a hold rating, while thirty-one have issued buy ratings, and five have designated a strong buy rating. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $206.69.

Current Stock Performance

On Thursday, shares of GOOGL opened at $188.40. The company boasts a market capitalization of $2.31 trillion, a P/E ratio of 24.99, and a price-to-earnings-growth ratio of 1.39. The stock has experienced a fifty-two week low of $130.66 and a high of $201.42, indicating potential volatility and opportunity. With a debt-to-equity ratio of 0.04 and liquidity ratios averaging 1.95, Alphabet appears well-positioned financially.

In its latest earnings announcement on October 29, Alphabet reported earnings per share (EPS) of $2.12, exceeding the consensus estimate of $1.83 by $0.29. The company reported revenue of $88.27 billion, significantly higher than the anticipated $72.85 billion. Alphabet's return on equity stands at 31.66%, with a net margin of 27.74%. Analysts project that Alphabet will record an EPS of 8.01 for the current financial year.

Dividend Information

The company has recently announced a quarterly dividend, paid on December 16, with stockholders of record on December 9 receiving a $0.20 per share dividend. This results in an annual dividend of $0.80, giving a yield of 0.42%. Alphabet's dividend payout ratio is currently 10.61%, indicating a commitment to returning value to shareholders.

About Alphabet

Alphabet Inc. is a global leader in various technology and information services, boasting a diverse portfolio of products across multiple regions, including North America, Europe, and Asia. Operating through segments like Google Services, Google Cloud, and Other Bets, the company provides a wide array of services from digital advertising to cloud computing and more. Notable products include Google Search, YouTube, Google Maps, and the Android operating system.

investment, shares, Alphabet