Chase Investment Counsel Corp Has $6.36 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Chase Investment Counsel Corp reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,333 shares of the information services provider's stock after selling 16,231 shares during the quarter. Alphabet comprises 2.1% of Chase Investment Counsel Corp's holdings, making the stock its 9th largest holding. Chase Investment Counsel Corp's holdings in Alphabet were worth $6,357,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GOOGL. Community Bank & Trust Waco Texas grew its stake in shares of Alphabet by 0.8% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 49,452 shares of the information services provider's stock worth $8,202,000 after acquiring an additional 393 shares during the period. Haverford Trust Co lifted its holdings in Alphabet by 36.3% during the 3rd quarter. Haverford Trust Co now owns 912,327 shares of the information services provider's stock worth $151,309,000 after purchasing an additional 242,906 shares in the last quarter. Empower Advisory Group LLC raised its holdings in shares of Alphabet by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 97,437 shares of the information services provider's stock valued at $16,160,000 after acquiring an additional 8,165 shares in the last quarter. Moser Wealth Advisors LLC raised its holdings in shares of Alphabet by 10.2% in the 3rd quarter. Moser Wealth Advisors LLC now owns 10,405 shares of the information services provider's stock valued at $1,726,000 after acquiring an additional 960 shares in the last quarter. Finally, Carrera Capital Advisors raised its holdings in shares of Alphabet by 5.3% in the 3rd quarter. Carrera Capital Advisors now owns 3,995 shares of the information services provider's stock valued at $663,000 after acquiring an additional 201 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Morgan Stanley raised their price objective on Alphabet from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Piper Sandler restated an "overweight" rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 price objective for the company. Finally, Scotiabank raised Alphabet to a "strong-buy" rating in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $205.90.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock valued at $34,673,866. Insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL traded down $0.22 on Wednesday, reaching $168.90. 5,614,613 shares of the stock traded hands, compared to its average volume of 27,157,154. The stock's 50-day moving average price is $168.03 and its 200-day moving average price is $170.35. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 1.19 and a beta of 1.03. 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 (NASDAQ:GOOGL - Get Free Report) last issued its quarterly 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 return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal 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 issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's payout ratio is presently 10.61%.

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.