Geneva Partners LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,126 shares of the information services provider's stock after selling 5,964 shares during the quarter. Alphabet comprises 4.5% of Geneva Partners LLC's investment portfolio, making the stock its 6th largest holding. Geneva Partners LLC's holdings in Alphabet were worth $10,469,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of GOOGL. International Assets Investment Management LLC lifted its holdings in Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC grew its position in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares in the last quarter. Capital Research Global Investors grew its position in Alphabet by 14.4% in the first 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 acquiring an additional 7,275,757 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares in the last quarter. Finally, Wulff Hansen & CO. grew its position in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider's stock valued at $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on GOOGL. JMP Securities lifted their price target 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. Mizuho upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. Phillip Securities upgraded shares of Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. Needham & Company LLC restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Alphabet from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $205.90.
Get Our Latest Analysis on GOOGL
Alphabet Stock Performance
Shares of NASDAQ GOOGL traded up $2.81 during trading hours on Monday, reaching $175.30. The stock had a trading volume of 19,429,254 shares, compared to its average volume of 27,110,707. The business's fifty day moving average is $165.61 and its two-hundred day moving average is $170.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $2.15 trillion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the company posted $1.55 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet's payout ratio is presently 10.61%.
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock worth $34,471,141. Insiders own 11.55% of the company's stock.
Alphabet Profile
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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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