Oxbow Advisors LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Oxbow Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.5% during the third quarter, HoldingsChannel.com reports. The firm owned 9,428 shares of the information services provider’s stock after selling 2,286 shares during the period. Oxbow Advisors LLC’s holdings in Alphabet were worth $1,564,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. New Hampshire Trust increased its holdings in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the period. Trinity Financial Advisors LLC grew its position in Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares in the last quarter. abrdn plc increased its stake in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares during the last quarter. StoneCrest Wealth Management Inc. raised its holdings in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares in the last quarter. Finally, EWG Elevate Inc. raised its holdings in shares of Alphabet by 9.7% in the 3rd quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock valued at $216,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.7 %

Shares of Alphabet stock opened at $164.76 on Friday. 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 12-month low of $127.90 and a 12-month high of $191.75. The company has a market cap of $2.02 trillion, a P/E ratio of 21.85, a PEG ratio of 1.19 and a beta of 1.03. The company’s fifty day simple moving average is $167.64 and its two-hundred day simple moving average is $170.35.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the company earned $1.55 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,795 shares of company stock valued at $34,673,866. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. JMP Securities boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.