Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 26.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,280 shares of the information services provider's stock after selling 29,667 shares during the quarter. Lowe Brockenbrough & Co. Inc.'s holdings in Alphabet were worth $13,646,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GOOGL. Cambiar Investors LLC increased its holdings in shares of Alphabet by 0.6% during the third quarter. Cambiar Investors LLC now owns 352,764 shares of the information services provider's stock worth $58,506,000 after purchasing an additional 2,018 shares during the period. CacheTech Inc. lifted its position in Alphabet by 5.9% during the third quarter. CacheTech Inc. now owns 17,505 shares of the information services provider's stock worth $2,903,000 after purchasing an additional 973 shares during the period. Americana Partners LLC grew its stake in Alphabet by 5.6% during the third quarter. Americana Partners LLC now owns 107,488 shares of the information services provider's stock worth $17,827,000 after buying an additional 5,735 shares in the last quarter. Shepherd Financial Partners LLC lifted its holdings in shares of Alphabet by 1.2% during the 3rd quarter. Shepherd Financial Partners LLC now owns 31,055 shares of the information services provider's stock worth $5,150,000 after acquiring an additional 374 shares during the period. Finally, Fonville Wealth Management LLC increased its stake in Alphabet by 24.6% in the third quarter. Fonville Wealth Management LLC now owns 4,994 shares of the information services provider's stock valued at $828,000 after acquiring an additional 986 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 2,835 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company's stock, valued at $4,421,948.46. This trade represents a 8.85 % 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 90 days. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on shares of Alphabet from $217.00 to $208.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Piper Sandler reiterated an "overweight" rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $205.90.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $3.09 during trading on Friday, hitting $172.49. The company had a trading volume of 32,481,654 shares, compared to its average volume of 27,145,184. The stock has a 50 day simple moving average of $165.18 and a 200 day simple moving average of $170.08. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 12 month low of $127.90 and a 12 month 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.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the firm earned $1.55 EPS. As a group, analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

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

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.