Logan Capital Management Inc. Sells 2,901 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Logan Capital Management Inc. cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,131 shares of the information services provider's stock after selling 2,901 shares during the quarter. Alphabet makes up about 1.0% of Logan Capital Management Inc.'s holdings, making the stock its 22nd biggest position. Logan Capital Management Inc.'s holdings in Alphabet were worth $25,065,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP bought a new stake in Alphabet during the 3rd quarter valued at approximately $32,000. Kings Path Partners LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter worth approximately $41,000. Finally, Quarry LP bought a new position in Alphabet in the 2nd quarter worth approximately $53,000. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Wedbush reissued an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Loop Capital boosted their price objective on shares of Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a report on Wednesday, November 6th. Bank of America increased their target price on shares of Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $212.00 to $232.00 and gave the stock an "overweight" rating in a research report on Wednesday. Seven research 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 stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $206.69.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded up $2.90 during midday trading on Friday, reaching $191.41. The company's stock had a trading volume of 62,697,719 shares, compared to its average volume of 27,725,518. The business's fifty day simple moving average is $173.99 and its 200-day simple moving average is $171.21. 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 fifty-two week low of $130.66 and a fifty-two week high of $201.42. The company has a market capitalization of $2.34 trillion, a P/E ratio of 25.39, a P/E/G ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. During the same quarter last year, the company posted $1.55 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet's payout ratio is currently 10.61%.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 1,367 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 700 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock valued at $31,358,687 over the last 90 days. 11.55% of the stock is owned by company insiders.

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.