Chelsea Counsel Co. Has $8 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Chelsea Counsel Co. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 48,254 shares of the information services provider's stock after selling 3,200 shares during the period. Alphabet makes up about 3.9% of Chelsea Counsel Co.'s investment portfolio, making the stock its 5th largest position. Chelsea Counsel Co.'s holdings in Alphabet were worth $8,003,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp raised its holdings in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock valued at $36,910,838,000 after buying an additional 743,369 shares during the period. Geode Capital Management LLC grew its position in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Alphabet by 2.5% during the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider's stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider's stock valued at $9,011,412,000 after purchasing an additional 238,403 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Alphabet by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock worth $6,175,106,000 after purchasing an additional 523,416 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Amie Thuener O'toole sold 1,367 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company's stock, valued at approximately $4,927,257.72. The trade was a 4.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company's stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,957 shares of company stock valued at $31,358,687 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL traded up $0.11 during mid-day trading on Thursday, reaching $188.51. 32,167,189 shares of the company's stock traded hands, compared to its average volume of 27,582,375. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business's 50-day moving average price is $173.46 and its 200-day moving average price is $171.09. The stock 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. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 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 analysts' expectations of $72.85 billion. During the same period last year, the firm earned $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOGL. DA Davidson started coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a "neutral" rating and a $170.00 price target on the stock. Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. JMP Securities increased their price target on Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a report on Wednesday, October 30th. Robert W. Baird restated an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Finally, Morgan Stanley upped their target price on Alphabet from $190.00 to $205.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.69.

Alphabet Company 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.