Crescent Grove Advisors LLC Sells 4,743 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Crescent Grove Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 53.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,177 shares of the information services provider's stock after selling 4,743 shares during the quarter. Crescent Grove Advisors LLC's holdings in Alphabet were worth $693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter worth $41,000. Quarry LP purchased a new stake in Alphabet in the second quarter worth $53,000. Finally, Summit Securities Group LLC purchased a new stake in Alphabet in the second quarter worth $55,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOGL. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Tigress Financial raised their price target on Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 26th. China Renaissance raised Alphabet from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. UBS Group raised their price target on Alphabet from $200.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their price target on Alphabet from $217.00 to $208.00 and set a "buy" rating for the company in a report on Monday, October 14th. Seven research 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.90.

Alphabet Trading Up 1.6 %

NASDAQ:GOOGL traded up $2.82 during mid-day trading on Tuesday, reaching $178.12. 23,402,831 shares of the company's stock traded hands, compared to its average volume of 27,097,613. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The firm has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a 50 day moving average price of $166.74 and a 200-day moving average price of $170.36.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 the consensus estimate of $72.85 billion. During the same quarter in the prior year, the business earned $1.55 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet's payout ratio is currently 10.61%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on 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 directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, 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 have sold 206,795 shares of company stock worth $34,471,141 in the last 90 days. Insiders own 11.55% of the company's stock.

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.