Exencial Wealth Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,332 shares of the information services provider's stock after selling 8,321 shares during the period. Exencial Wealth Advisors LLC's holdings in Alphabet were worth $17,138,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its holdings in Alphabet by 70.6% in the first 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 purchasing an additional 41,880 shares during the last quarter. Quent Capital LLC grew its holdings in Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider's stock valued at $4,705,000 after purchasing an additional 1,072 shares during the last quarter. Empowered Funds LLC grew its holdings in Alphabet by 12.3% in the first quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider's stock valued at $28,351,000 after purchasing an additional 20,572 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Alphabet by 9.9% in the first quarter. William Blair Investment Management LLC now owns 7,693,292 shares of the information services provider's stock valued at $1,161,149,000 after purchasing an additional 695,581 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. grew its holdings in Alphabet by 1.8% in the first quarter. Baltimore Washington Financial Advisors Inc. now owns 44,965 shares of the information services provider's stock valued at $6,787,000 after purchasing an additional 791 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Performance
NASDAQ:GOOGL traded down $3.33 during midday trading on Wednesday, reaching $174.79. 8,021,273 shares of the company traded hands, compared to its average volume of 27,012,984. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. 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 fifty day moving average price of $166.74 and a 200 day moving average price of $170.36. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company earned $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet's dividend payout ratio is presently 10.61%.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on Alphabet from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. DA Davidson initiated coverage on Alphabet in a research note on Tuesday, September 10th. They set a "neutral" rating and a $170.00 price objective on the stock. Loop Capital increased their price objective on Alphabet from $170.00 to $185.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. Mizuho increased their price objective on Alphabet from $205.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Finally, JMP Securities increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a "market outperform" 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 assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $205.90.
Get Our Latest Research Report on Alphabet
Insider Buying and Selling
In other news, CAO Amie Thuener O'toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,295 shares of company stock valued at $30,698,791 in the last three months. 11.55% of the stock is currently owned by corporate insiders.
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.
Recommended Stories
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
