Aletheian Wealth Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 66.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,672 shares of the information services provider's stock after selling 11,080 shares during the quarter. Aletheian Wealth Advisors LLC's holdings in Alphabet were worth $941,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. New Hampshire Trust boosted its holdings in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider's stock valued at $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new stake in Alphabet during the first quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP boosted its holdings in Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider's stock valued at $962,000 after purchasing an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC boosted its holdings in Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock valued at $771,000 after purchasing an additional 190 shares in the last quarter. Finally, abrdn plc boosted its holdings in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock valued at $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Up 1.1 %
Shares of Alphabet stock traded up $2.00 during trading hours on Monday, reaching $180.35. 17,439,302 shares of the company's stock were exchanged, compared to its average volume of 27,130,313. The company has a 50 day moving average of $163.54 and a two-hundred day moving average of $169.74. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.21 trillion, a P/E ratio of 23.84, a P/E/G ratio of 1.27 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the business posted $1.55 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal 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 paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet's dividend payout ratio (DPR) is currently 10.61%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on GOOGL shares. Bank of America lifted their price objective on Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Mizuho lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $190.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $205.90.
Check Out Our Latest Analysis on GOOGL
Insider Activity at Alphabet
In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 700 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now owns 29,324 shares of the company's stock, valued at $4,838,460. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,752 shares of company stock worth $40,156,829. Insiders own 11.55% of the company's stock.
About Alphabet
(
Free Report)
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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