Zweig DiMenna Associates LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,700 shares of the information services provider's stock after selling 4,100 shares during the quarter. Alphabet makes up approximately 1.4% of Zweig DiMenna Associates LLC's investment portfolio, making the stock its 23rd largest position. Zweig DiMenna Associates LLC's holdings in Alphabet were worth $13,550,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter worth approximately $36,000. Denver PWM LLC bought a new position in Alphabet during the second quarter worth $41,000. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after buying an additional 109 shares during the period. Finally, Quarry LP acquired a new position in shares of Alphabet during the second quarter worth approximately $53,000. Institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ GOOGL traded up $6.77 during mid-day trading on Wednesday, hitting $176.51. The stock had a trading volume of 33,676,915 shares, compared to its average volume of 27,207,359. The firm has a market cap of $2.17 trillion, a PE ratio of 23.41, a PEG ratio of 1.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50 day moving average of $162.86 and a two-hundred day moving average of $169.36. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.
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 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 company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm posted $1.55 EPS. Research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet's payout ratio is 10.61%.
Insider Activity
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Frances Arnold sold 441 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,052 shares of company stock valued at $38,424,448 in the last 90 days. Company insiders own 11.55% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on GOOGL shares. China Renaissance upgraded shares of Alphabet from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada upped their price target on Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. The Goldman Sachs Group cut their price target on Alphabet from $217.00 to $208.00 and set a "buy" rating for the company in a report on Monday, October 14th. Finally, UBS Group upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.90.
Check Out Our Latest Stock Analysis on GOOGL
Alphabet Company Profile
(
Free Report)
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.
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