Dakota Wealth Management Sells 32,293 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Dakota Wealth Management lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 241,810 shares of the information services provider's stock after selling 32,293 shares during the period. Alphabet makes up about 0.9% of Dakota Wealth Management's portfolio, making the stock its 14th largest holding. Dakota Wealth Management's holdings in Alphabet were worth $40,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. New Hampshire Trust boosted its position in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider's stock worth $7,963,000 after acquiring an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. bought a new stake in Alphabet during the first quarter worth $359,000. Schneider Downs Wealth Management Advisors LP boosted its holdings in shares of Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider's stock valued at $962,000 after purchasing an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC raised its holdings in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock worth $771,000 after buying an additional 190 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. raised its holdings in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider's stock worth $3,567,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Up 4.0 %

GOOGL traded up $6.77 during midday trading on Wednesday, hitting $176.51. The company had a trading volume of 33,676,915 shares, compared to its average volume of 27,207,359. The stock's 50 day moving average price is $162.86 and its 200 day moving average price is $169.36. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.22 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In other news, CAO Amie Thuener O'toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm's 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 transaction, 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,052 shares of company stock worth $38,424,448 in the last ninety days. Corporate insiders own 11.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Seaport Res Ptn upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. China Renaissance raised shares of Alphabet from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Sanford C. Bernstein raised their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a "market perform" rating in a research report on Wednesday, October 30th. Evercore ISI upped their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, UBS Group raised their price objective on Alphabet from $200.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.