Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,513 shares of the information services provider's stock after selling 7,176 shares during the period. Alphabet accounts for 2.8% of Greenwood Capital Associates LLC's portfolio, making the stock its 4th largest position. Greenwood Capital Associates LLC's holdings in Alphabet were worth $21,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. China Universal Asset Management Co. Ltd. boosted its position in shares of Alphabet by 70.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider's stock worth $15,279,000 after buying an additional 41,880 shares during the period. Quent Capital LLC boosted its position in Alphabet by 3.6% during the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider's stock worth $4,705,000 after acquiring an additional 1,072 shares during the period. Empowered Funds LLC grew its stake in shares of Alphabet by 12.3% in the first quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider's stock worth $28,351,000 after purchasing an additional 20,572 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Alphabet by 27.4% during the first quarter. Atomi Financial Group Inc. now owns 34,871 shares of the information services provider's stock valued at $5,263,000 after purchasing an additional 7,507 shares during the period. Finally, Nixon Peabody Trust Co. raised its stake in shares of Alphabet by 4.9% during the first quarter. Nixon Peabody Trust Co. now owns 113,126 shares of the information services provider's stock valued at $17,074,000 after purchasing an additional 5,268 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock traded up $2.81 on Monday, reaching $175.30. The stock had a trading volume of 19,429,254 shares, compared to its average volume of 27,110,707. 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 business's 50-day moving average price is $165.61 and its two-hundred day moving average price is $170.22. The stock has a market cap of $2.15 trillion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during 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 period in the prior year, the company earned $1.55 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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 boosted their target price on Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a report on Wednesday, October 30th. Piper Sandler restated an "overweight" rating and issued a $210.00 target price (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. 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. Finally, JMP Securities upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a report on Wednesday, October 30th. Seven equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.90.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 441 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company's stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now owns 319,966 shares of the company's stock, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock worth $34,471,141. Company insiders own 11.55% of the company's stock.

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.