Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 550,733 shares of the information services provider's stock after selling 15,562 shares during the quarter. Alphabet makes up approximately 4.9% of AMI Asset Management Corp's holdings, making the stock its 3rd biggest position. AMI Asset Management Corp's holdings in Alphabet were worth $91,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. International Assets Investment Management LLC increased its stake in Alphabet by 43,005.6% in the third 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 during the last quarter. SG Americas Securities LLC lifted its stake in Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Capital Research Global Investors raised its stake in Alphabet by 14.4% during 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 purchasing an additional 7,275,757 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Alphabet by 116.4% during 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 purchasing an additional 4,662,809 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position in Alphabet by 18,810.2% during 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 during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company's stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the 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 completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,752 shares of company stock valued at $40,156,829. Corporate insiders own 11.55% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $1.27 during mid-day trading on Tuesday, reaching $181.62. The company had a trading volume of 25,122,860 shares, compared to its average volume of 27,119,752. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.22 trillion, a PE ratio of 23.84, a P/E/G ratio of 1.27 and a beta of 1.03. The company has a 50-day moving average price of $163.88 and a two-hundred day moving average price of $169.91. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the business earned $1.55 EPS. On average, equities 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. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOGL. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Scotiabank upgraded Alphabet to a "strong-buy" rating in a research report on Friday, October 11th. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, KeyCorp upped their target price on Alphabet from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.90.

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.