Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,600 shares of the information services provider's stock after selling 131,000 shares during the period. Alphabet comprises 3.5% of Adams Diversified Equity Fund Inc.'s portfolio, making the stock its 5th largest position. Adams Diversified Equity Fund Inc.'s holdings in Alphabet were worth $95,961,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider's stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp lifted 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 valued at $9,011,412,000 after acquiring an additional 238,403 shares in the last quarter. Capital World Investors increased its position in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider's stock worth $5,344,778,000 after purchasing an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings 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 worth $4,274,184,000 after acquiring an additional 418,204 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GOOGL shares. Tigress Financial increased their target price on Alphabet from $210.00 to $220.00 and gave the company a "strong-buy" rating in a research report on Thursday, September 26th. Seaport Res Ptn upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group decreased their target price on Alphabet from $217.00 to $208.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Wedbush restated an "outperform" rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven research 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's stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $205.90.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was 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 owns 312,210 shares of the company's stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 700 shares of the company's stock in a transaction 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 transaction, the director now directly owns 29,324 shares of the company's stock, valued at $4,838,460. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the 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 transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,752 shares of company stock worth $40,156,829 over the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

GOOGL stock traded up $1.27 during trading hours on Tuesday, hitting $181.62. 25,122,860 shares of the stock were exchanged, compared to its average volume of 27,119,752. 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 firm has a market capitalization of $2.22 trillion, a P/E ratio of 23.84, a P/E/G ratio of 1.27 and a beta of 1.03. The company has a 50-day simple moving average of $163.88 and a two-hundred day simple moving average of $169.91. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75.

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 for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. During the same quarter last year, the business earned $1.55 EPS. On average, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet's payout ratio is currently 10.61%.

Alphabet Profile

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.