Hardman Johnston Global Advisors LLC Has $57.82 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Hardman Johnston Global Advisors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,617 shares of the information services provider's stock after selling 95,310 shares during the quarter. Alphabet makes up approximately 2.3% of Hardman Johnston Global Advisors LLC's holdings, making the stock its 13th largest holding. Hardman Johnston Global Advisors LLC's holdings in Alphabet were worth $57,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Marks Group Wealth Management Inc boosted its holdings in shares of Alphabet by 3.2% in the 3rd quarter. Marks Group Wealth Management Inc now owns 6,385 shares of the information services provider's stock worth $1,059,000 after acquiring an additional 200 shares in the last quarter. JFG Wealth Management LLC lifted its holdings in Alphabet by 48.2% during the 3rd quarter. JFG Wealth Management LLC now owns 2,981 shares of the information services provider's stock worth $495,000 after buying an additional 970 shares in the last quarter. Financial Partners Group Inc lifted its holdings in Alphabet by 1.9% during the 3rd quarter. Financial Partners Group Inc now owns 53,877 shares of the information services provider's stock worth $8,935,000 after buying an additional 1,029 shares in the last quarter. Falcon Wealth Planning lifted its holdings in Alphabet by 2.2% during the 3rd quarter. Falcon Wealth Planning now owns 7,898 shares of the information services provider's stock worth $1,310,000 after buying an additional 171 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its holdings in Alphabet by 3.3% during the 3rd quarter. Crestwood Advisors Group LLC now owns 760,173 shares of the information services provider's stock worth $126,073,000 after buying an additional 24,147 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company's stock, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Alphabet stock traded up $2.82 during trading hours on Tuesday, hitting $178.12. The company had a trading volume of 23,402,831 shares, compared to its average volume of 27,097,613. The firm has a market cap of $2.18 trillion, a PE ratio of 23.62, a PEG ratio of 1.23 and a beta of 1.03. 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 Inc. has a one year low of $127.90 and a one year high of $191.75. The firm has a 50-day moving average of $166.74 and a 200 day moving average of $170.36.

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 for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm 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 period in the prior year, the firm earned $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued 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 0.45%. Alphabet's dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOGL. Morgan Stanley upped their price objective on Alphabet from $190.00 to $205.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. UBS Group upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the company a "neutral" rating in a research report on Wednesday, July 24th. Loop Capital upped their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th. Citigroup upped their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada upped their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Seven 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.90.

Alphabet Profile

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.