Alphabet Inc. (NASDAQ:GOOGL) Holdings Trimmed by Lmcg Investments LLC

Lmcg Investments LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 267,773 shares of the information services provider's stock after selling 4,619 shares during the quarter. Alphabet accounts for approximately 2.7% of Lmcg Investments LLC's holdings, making the stock its 4th largest holding. Lmcg Investments LLC's holdings in Alphabet were worth $44,410,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter worth about $36,000. Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter worth about $41,000. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after purchasing an additional 109 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Alphabet in the second quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Down 1.5 %

NASDAQ:GOOGL traded down $2.62 on Friday, reaching $172.96. The company's stock had a trading volume of 4,816,222 shares, compared to its average volume of 27,020,586. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.12 trillion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The stock has a 50 day moving average price of $165.18 and a 200 day moving average price of $170.08.

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 (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

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 $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet's dividend payout ratio is presently 10.61%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on 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 sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 682 shares of the business'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 completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GOOGL shares. China Renaissance upgraded Alphabet from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. KeyCorp lifted their price target on Alphabet from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Guggenheim lifted their price target on Alphabet from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They set a "neutral" rating and a $170.00 price target for the company. Finally, BMO Capital Markets restated an "outperform" rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $205.90.

Alphabet Company 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.