Hemenway Trust Co LLC Has $50.43 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Hemenway Trust Co LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,057 shares of the information services provider’s stock after selling 10,101 shares during the quarter. Alphabet accounts for 4.0% of Hemenway Trust Co LLC’s portfolio, making the stock its 4th largest position. Hemenway Trust Co LLC’s holdings in Alphabet were worth $50,428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC raised its position in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares during the last quarter. Hengehold Capital Management LLC boosted its holdings in shares of Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% in the 2nd 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 during the period. First PREMIER Bank grew its stake in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares during the period. Finally, MKT Advisors LLC raised its holdings in Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOOGL. The Goldman Sachs Group lowered their target price 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. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Roth Mkm increased their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI boosted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 over the last quarter. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

GOOGL opened at $169.12 on Wednesday. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.17 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $168.03 and its 200 day moving average price is $170.35. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business earned $1.55 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

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.