Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by South Street Advisors LLC

South Street Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 127,728 shares of the information services provider’s stock after selling 7,344 shares during the period. Alphabet makes up approximately 3.2% of South Street Advisors LLC’s investment portfolio, making the stock its 10th largest position. South Street Advisors LLC’s holdings in Alphabet were worth $21,184,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the second quarter worth about $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the 2nd quarter worth about $41,000. Quarry LP bought a new stake in Alphabet during the second quarter worth approximately $53,000. Finally, Summit Securities Group LLC bought a new position in shares of Alphabet in the second quarter valued at approximately $55,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on 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 approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now directly 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 ownership of the stock. 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. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOGL. Wells Fargo & Company raised their target price 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. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JMP Securities lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Truist Financial increased their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wedbush restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Seven investment 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, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

Shares of GOOGL stock opened at $168.95 on Friday. The business has a fifty day simple moving average of $168.47 and a 200 day simple moving average of $170.33. The company has a market cap of $2.07 trillion, a P/E ratio of 22.41, a P/E/G ratio of 1.20 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given 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 yield of 0.47%. Alphabet’s dividend 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.