E. Ohman J or Asset Management AB lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,332,140 shares of the information services provider's stock after selling 46,640 shares during the quarter. Alphabet accounts for about 5.5% of E. Ohman J or Asset Management AB's portfolio, making the stock its 4th largest position. E. Ohman J or Asset Management AB's holdings in Alphabet were worth $220,935,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Bull Oak Capital LLC raised its stake in shares of Alphabet by 162.6% in the third quarter. Bull Oak Capital LLC now owns 554 shares of the information services provider's stock valued at $92,000 after acquiring an additional 343 shares during the period. West Michigan Advisors LLC grew its stake in shares of Alphabet by 5.8% during the third quarter. West Michigan Advisors LLC now owns 6,550 shares of the information services provider's stock valued at $1,086,000 after buying an additional 357 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in shares of Alphabet by 29.4% during the 3rd quarter. Legacy Capital Group California Inc. now owns 13,578 shares of the information services provider's stock worth $2,252,000 after acquiring an additional 3,088 shares during the last quarter. Tectonic Advisors LLC grew its position in Alphabet by 0.9% in the 3rd quarter. Tectonic Advisors LLC now owns 8,019 shares of the information services provider's stock valued at $1,330,000 after acquiring an additional 69 shares during the last quarter. Finally, Eagle Ridge Investment Management grew its position in Alphabet by 0.3% in the 3rd quarter. Eagle Ridge Investment Management now owns 218,302 shares of the information services provider's stock valued at $36,205,000 after acquiring an additional 662 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the sale, the director now owns 30,024 shares of the company's stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,052 shares of company stock worth $38,424,448 over the last 90 days. Corporate insiders own 11.55% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on GOOGL. Cantor Fitzgerald reissued a "neutral" rating and issued a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Bank of America raised their price target on Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. DA Davidson started coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 price target for the company. Finally, Sanford C. Bernstein increased their price objective 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. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $205.90.
Read Our Latest Analysis on Alphabet
Alphabet Price Performance
NASDAQ GOOGL traded up $6.77 during trading hours on Wednesday, hitting $176.51. 33,676,915 shares of the company's stock traded hands, compared to its average volume of 27,207,359. 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 firm's 50-day moving average is $162.86 and its 200-day moving average 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 PE ratio of 23.41, a PEG ratio of 1.22 and a beta of 1.03.
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, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business posted $1.55 EPS. Equities analysts forecast 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. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet's dividend payout ratio 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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