Consolidated Portfolio Review Corp lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 62.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,465 shares of the information services provider's stock after selling 14,347 shares during the quarter. Consolidated Portfolio Review Corp's holdings in Alphabet were worth $1,404,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. China Universal Asset Management Co. Ltd. boosted its holdings in Alphabet by 70.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider's stock valued at $15,279,000 after acquiring an additional 41,880 shares during the period. Fortis Group Advisors LLC lifted its position in shares of Alphabet by 552.0% during the first quarter. Fortis Group Advisors LLC now owns 39,276 shares of the information services provider's stock worth $5,928,000 after purchasing an additional 33,252 shares during the last quarter. JLB & Associates Inc. lifted its position in shares of Alphabet by 7.2% during the first quarter. JLB & Associates Inc. now owns 15,801 shares of the information services provider's stock worth $2,406,000 after purchasing an additional 1,066 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Alphabet by 13.5% during the first quarter. Van ECK Associates Corp now owns 3,537,451 shares of the information services provider's stock valued at $533,908,000 after purchasing an additional 419,480 shares during the period. Finally, Ables Iannone Moore & Associates Inc. grew its holdings in shares of Alphabet by 1.1% in the first quarter. Ables Iannone Moore & Associates Inc. now owns 62,534 shares of the information services provider's stock worth $9,436,000 after purchasing an additional 655 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on GOOGL shares. Tigress Financial lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "strong-buy" rating in a report on Thursday, September 26th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a "market perform" rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. Finally, JMP Securities upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a "market outperform" rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.90.
View Our Latest Analysis on GOOGL
Insiders Place Their Bets
In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 319,966 shares of the company's stock, valued at approximately $56,765,168.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,552 shares of company stock valued at $40,287,253. 11.55% of the stock is owned by insiders.
Alphabet Stock Performance
Shares of GOOGL traded down $2.40 during trading hours on Friday, reaching $178.35. 21,982,048 shares of the company traded hands, compared to its average volume of 27,174,885. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $163.54 and a 200-day moving average price of $169.59. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The stock has a market capitalization of $2.20 trillion, a P/E ratio of 23.65, a P/E/G ratio of 1.20 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 business 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. Equities analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet's dividend payout ratio (DPR) is presently 10.61%.
About Alphabet
(
Free Report)
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.
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