Bard Financial Services Inc. Sells 6,890 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bard Financial Services Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,980 shares of the information services provider's stock after selling 6,890 shares during the period. Alphabet makes up about 1.1% of Bard Financial Services Inc.'s portfolio, making the stock its 24th largest holding. Bard Financial Services Inc.'s holdings in Alphabet were worth $9,616,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after acquiring an additional 60 shares during the period. LMR Partners LLP acquired a new stake in shares of Alphabet during the 3rd quarter worth $32,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the second quarter worth $41,000. Finally, Quarry LP acquired a new position in Alphabet in the second quarter valued at about $53,000. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,957 shares of company stock worth $31,358,687 in the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.1 %

Shares of GOOGL traded up $0.11 during trading hours on Thursday, hitting $188.51. 32,167,189 shares of the stock were exchanged, compared to its average volume of 27,582,375. The firm has a market capitalization of $2.31 trillion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The business has a 50-day moving average of $173.46 and a 200-day moving average of $171.09.

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 for the quarter, topping 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 during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company posted $1.55 EPS. On average, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet's dividend payout ratio (DPR) is 10.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $212.00 to $232.00 and gave the stock an "overweight" rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Needham & Company LLC reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Finally, Loop Capital raised their target price on Alphabet from $170.00 to $185.00 and gave the company a "hold" rating in a report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $206.69.

About Alphabet

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.