Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Lowered by Private Client Services LLC

Private Client Services LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,572 shares of the information services provider’s stock after selling 197 shares during the quarter. Private Client Services LLC’s holdings in Alphabet were worth $758,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC grew its stake in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Capital Research Global Investors grew its position in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. increased its stake in Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares during the period. Wulff Hansen & CO. raised its position in shares of Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after buying an additional 4,410,811 shares in the last quarter. Finally, PineStone Asset Management Inc. raised its holdings in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOGL shares. Royal Bank of Canada lifted their price target on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Pivotal Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 1st. Tigress Financial upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. TD Securities raised their price objective on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.95.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. 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 hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $163.24 on Monday. The company has a 50 day moving average price of $161.37 and a two-hundred day moving average price of $167.86. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The stock has a market capitalization of $2.02 trillion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

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.