RWQ Financial Management Services Inc. Has $3.82 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

RWQ Financial Management Services Inc. cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 72.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,002 shares of the information services provider's stock after selling 59,776 shares during the quarter. Alphabet comprises 1.3% of RWQ Financial Management Services Inc.'s holdings, making the stock its 13th biggest position. RWQ Financial Management Services Inc.'s holdings in Alphabet were worth $3,815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in Alphabet during the second quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter worth approximately $41,000. CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after purchasing an additional 109 shares during the period. Finally, Quarry LP bought a new position in Alphabet during the 2nd quarter valued at $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on GOOGL. China Renaissance raised Alphabet from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Scotiabank raised shares of Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $181.00 price target on shares of Alphabet in a report on Wednesday, July 24th. Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Loop Capital boosted their target price on Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a research report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $205.90.

Alphabet Stock Performance

Alphabet stock traded down $3.09 on Friday, reaching $172.49. 32,504,649 shares of the stock were exchanged, compared to its average volume of 27,756,214. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The firm has a fifty day moving average price of $165.61 and a two-hundred day moving average price of $170.18. The stock has a market cap of $2.11 trillion, a PE ratio of 22.88, a PEG ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the business posted $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet's dividend payout ratio is currently 10.61%.

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.