Northstar Asset Management Inc. Sells 4,554 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Northstar Asset Management Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,383 shares of the information services provider's stock after selling 4,554 shares during the period. Alphabet makes up about 3.8% of Northstar Asset Management Inc.'s investment portfolio, making the stock its 9th largest position. Northstar Asset Management Inc.'s holdings in Alphabet were worth $15,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter worth about $41,000. Quarry LP acquired a new stake in Alphabet during the 2nd quarter worth about $53,000. Finally, Summit Securities Group LLC acquired a new stake in Alphabet during the 2nd quarter worth about $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other 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 transaction of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,471,141 over the last 90 days. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Rosenblatt Securities restated a "neutral" rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Wedbush restated an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 target price on the stock. Evercore ISI upped their target price on Alphabet from $200.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, China Renaissance upgraded Alphabet from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $205.90.

Alphabet Trading Up 1.6 %

GOOGL traded up $2.82 during midday trading on Tuesday, reaching $178.12. 23,402,831 shares of the company were exchanged, compared to its average volume of 27,097,613. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 23.62, a PEG ratio of 1.23 and a beta of 1.03. The stock's 50-day simple moving average is $166.74 and its 200 day simple moving average is $170.36.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $72.85 billion. During the same quarter last year, the business earned $1.55 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is currently 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.