Financial Avengers Inc. Sells 89,566 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Financial Avengers Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 91.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,240 shares of the information services provider's stock after selling 89,566 shares during the quarter. Alphabet comprises 0.7% of Financial Avengers Inc.'s portfolio, making the stock its 20th largest holding. Financial Avengers Inc.'s holdings in Alphabet were worth $1,367,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hengehold Capital Management LLC boosted its stake in shares of Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider's stock valued at $1,316,000 after purchasing an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc grew its stake in shares of 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 buying an additional 60 shares during the last quarter. First PREMIER Bank lifted its stake in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider's stock valued at $275,000 after acquiring an additional 61 shares during the last quarter. Cutler Investment Counsel LLC grew its position in Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider's stock worth $607,000 after acquiring an additional 61 shares during the last quarter. Finally, MKT Advisors LLC grew its position in Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider's stock worth $1,221,000 after acquiring an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Amie Thuener O'toole sold 1,367 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 4.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 16,802 shares of the firm's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now owns 43,999 shares in the company, valued at $7,280,514.53. This represents a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,957 shares of company stock worth $31,358,687. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Alphabet stock opened at $195.08 on Wednesday. The company has a market cap of $2.39 trillion, a PE ratio of 25.92, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42. The company has a fifty day moving average price of $172.93 and a two-hundred day moving average price of $170.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 quarter last year, the business earned $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's dividend payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOGL. Sanford C. Bernstein increased their price objective on Alphabet from $180.00 to $185.00 and gave the company a "market perform" rating in a research note on Wednesday, October 30th. Roth Mkm boosted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Finally, BMO Capital Markets restated an "outperform" rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $206.69.

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.