Symmetry Partners LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Symmetry Partners LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 93.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,531 shares of the information services provider's stock after selling 49,164 shares during the period. Symmetry Partners LLC's holdings in Alphabet were worth $586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% in the second 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 shares of Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter valued at about $41,000. CarsonAllaria Wealth Management Ltd. boosted its stake in 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 acquiring an additional 109 shares during the last quarter. Finally, Quarry LP bought a new stake in Alphabet in the second quarter valued at about $53,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOGL. China Renaissance raised shares of Alphabet from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Wedbush reaffirmed an "outperform" rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. KeyCorp upped their target price on Alphabet from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Cantor Fitzgerald reissued a "neutral" rating and issued a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Tigress Financial boosted their target price on Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 26th. Seven investment 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 company. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $205.90.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company's stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares of the company's stock, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,471,141 over the last three months. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL traded down $3.09 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 firm has a 50 day moving average of $165.18 and a two-hundred day moving average of $170.08. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. 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 (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) 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 analyst estimates of $72.85 billion. During the same quarter last year, the business earned $1.55 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet's payout ratio is presently 10.61%.

Alphabet Company 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.