Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Rational Advisors LLC

Rational Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,582 shares of the information services provider's stock after selling 8,618 shares during the quarter. Rational Advisors LLC's holdings in Alphabet were worth $4,740,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Impax Asset Management Group plc raised its position in shares of Alphabet by 6.8% in the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider's stock valued at $120,834,000 after buying an additional 46,677 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Alphabet by 2.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 9,217 shares of the information services provider's stock valued at $1,528,000 after acquiring an additional 224 shares during the last quarter. Quintet Private Bank Europe S.A. boosted its holdings in shares of Alphabet by 13.9% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 587,363 shares of the information services provider's stock worth $97,414,000 after purchasing an additional 71,651 shares during the last quarter. PDS Planning Inc grew its position in shares of Alphabet by 3.5% in the third quarter. PDS Planning Inc now owns 29,860 shares of the information services provider's stock valued at $4,952,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Garrison Asset Management LLC increased its holdings in shares of Alphabet by 2.8% in the third quarter. Garrison Asset Management LLC now owns 3,977 shares of the information services provider's stock valued at $660,000 after purchasing an additional 107 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOGL. Wells Fargo & Company upped their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $208.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. 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 currently has an average rating of "Moderate Buy" and a consensus price target of $205.90.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company's stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares of the company's stock, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety 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.

Alphabet Trading Up 1.6 %

Shares of Alphabet stock 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 firm has a 50 day simple moving average of $165.61 and a two-hundred day simple moving average of $170.22. The firm has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year 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.

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. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. 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 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.