Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.0% during the third quarter, Holdings Channel reports. The firm owned 7,670 shares of the information services provider’s stock after selling 853 shares during the period. Alphabet makes up approximately 0.8% of Birchcreek Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Birchcreek Wealth Management LLC’s holdings in Alphabet were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc increased its holdings 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 acquiring an additional 60 shares during the period. Kings Path Partners LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC acquired a new position in Alphabet in the 2nd quarter valued at $41,000. Quarry LP acquired a new position in Alphabet in the 2nd quarter valued at $53,000. Finally, Summit Securities Group LLC acquired a new position in Alphabet in the 2nd quarter valued at $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $168.95 on Friday. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.20 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 company’s 50-day moving average is $168.47 and its two-hundred day moving average is $170.33. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating 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 the consensus estimate of $72.85 billion. During the same quarter in the prior year, the company posted $1.55 EPS. Research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,673,866 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOGL. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America boosted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Finally, JMP Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.