Private Management Group Inc. Sells 27,954 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Private Management Group Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,164 shares of the information services provider's stock after selling 27,954 shares during the period. Private Management Group Inc.'s holdings in Alphabet were worth $15,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc boosted its holdings in 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 acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter worth about $36,000. Denver PWM LLC bought a new stake in Alphabet in the 2nd quarter valued at $41,000. CarsonAllaria Wealth Management Ltd. raised its position in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after purchasing an additional 109 shares during the period. Finally, Quarry LP bought a new position in shares of Alphabet in the second quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company's stock, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock valued at $34,471,141. Corporate insiders own 11.55% of the company's stock.

Alphabet Trading Down 1.8 %

Shares of NASDAQ GOOGL traded down $3.09 during trading on Friday, reaching $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 market cap of $2.11 trillion, a P/E ratio of 22.77, a PEG ratio of 1.27 and a beta of 1.03. The company's fifty day moving average price is $165.18 and its 200-day moving average price is $170.08. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. As a group, research analysts expect 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. Shareholders 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 dividend on an annualized basis and a yield of 0.46%. Alphabet's payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. BMO Capital Markets reiterated an "outperform" rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Bank of America upped their target price on Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Sanford C. Bernstein lifted their price target on Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, JMP Securities lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a "market outperform" rating in a report on Wednesday, October 30th. Seven 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $205.90.

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.