F M Investments LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

F M Investments LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,789 shares of the information services provider's stock after selling 41,773 shares during the period. Alphabet makes up about 2.8% of F M Investments LLC's holdings, making the stock its 4th biggest position. F M Investments LLC's holdings in Alphabet were worth $80,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the second quarter worth $41,000. CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after buying an additional 109 shares during the period. Finally, Quarry LP purchased a new position in Alphabet during the second quarter worth about $53,000. 40.03% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company's stock, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOGL shares. Royal Bank of Canada lifted their price target on Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Needham & Company LLC reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Guggenheim raised their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 target price for the company. Finally, Seaport Res Ptn upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Seven equities 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $205.90.

Alphabet Stock Down 1.8 %

Shares of Alphabet stock traded down $3.09 during trading on Friday, hitting $172.49. The company's stock had a trading volume of 32,481,654 shares, compared to its average volume of 27,145,184. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a fifty day simple moving average of $165.18 and a two-hundred day simple moving average of $170.08. The company has a market capitalization of $2.11 trillion, a PE ratio of 22.77, a P/E/G ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the business earned $1.55 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet's dividend payout ratio is currently 10.61%.

About Alphabet

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.