Alphabet Inc. (NASDAQ:GOOGL) Stock Position Reduced by Morse Asset Management Inc

Morse Asset Management Inc reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,368 shares of the information services provider's stock after selling 5,189 shares during the quarter. Alphabet makes up 3.0% of Morse Asset Management Inc's holdings, making the stock its 5th largest position. Morse Asset Management Inc's holdings in Alphabet were worth $13,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc increased its position 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 valued at $26,000 after buying an additional 60 shares in the last quarter. First PREMIER Bank grew its stake in Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider's stock valued at $275,000 after acquiring an additional 61 shares during the period. Cutler Investment Counsel LLC increased its holdings in Alphabet by 1.7% in the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider's stock worth $607,000 after acquiring an additional 61 shares in the last quarter. MKT Advisors LLC raised its position in Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider's stock worth $1,221,000 after acquiring an additional 62 shares during the period. Finally, Mendota Financial Group LLC lifted its holdings in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock valued at $67,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity

In related news, insider John Kent Walker sold 16,802 shares of the business's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now directly owns 43,999 shares of the company's stock, valued at $7,280,514.53. The trade was a 27.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,957 shares of company stock valued at $31,358,687. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.1 %

NASDAQ:GOOGL traded up $0.11 during trading hours on Thursday, reaching $188.51. 32,167,189 shares of the stock were exchanged, compared to its average volume of 27,582,375. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The business has a 50-day moving average of $173.46 and a two-hundred day moving average of $171.09. The company has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.39 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

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. 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 the consensus estimate of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet's dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOGL. China Renaissance raised shares of Alphabet from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price objective on Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Phillip Securities raised Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Truist Financial lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on Alphabet from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $206.69.

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.