Ingalls & Snyder LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Ingalls & Snyder LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 322,023 shares of the information services provider’s stock after selling 1,784 shares during the period. Alphabet accounts for about 2.5% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 8th largest position. Ingalls & Snyder LLC’s holdings in Alphabet were worth $58,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its position in shares of Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares during the last quarter. Nebula Research & Development LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $787,000. New Hampshire Trust raised its position in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the last quarter. Matisse Capital raised its position in shares of Alphabet by 13.7% during the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after buying an additional 2,026 shares during the last quarter. Finally, Berkshire Money Management Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $359,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,367 shares of company stock worth $30,016,931. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOGL stock opened at $151.16 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50-day moving average price of $168.75 and a 200 day moving average price of $164.42. The company has a market capitalization of $1.86 trillion, a P/E ratio of 23.18, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Mizuho raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. DA Davidson started coverage on shares of Alphabet in a report on Tuesday. They issued a “neutral” rating and a $170.00 target price for the company. Wells Fargo & Company raised their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Bank of America raised their target price on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.76.

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.