Chesapeake Wealth Management Has $4.65 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Chesapeake Wealth Management trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 28,048 shares of the information services provider’s stock after selling 392 shares during the period. Alphabet makes up about 1.6% of Chesapeake Wealth Management’s holdings, making the stock its 15th largest holding. Chesapeake Wealth Management’s holdings in Alphabet were worth $4,652,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% in the second 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 last quarter. LMR Partners LLP bought a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. Kings Path Partners LLC acquired a new stake in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC bought a new position in Alphabet during the second quarter worth about $41,000. Finally, Quarry LP acquired a new position in Alphabet during the second quarter worth approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the transaction, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. This represents a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,124 shares of company stock valued at $31,374,030 in the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $171.49 on Tuesday. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The stock has a market cap of $2.10 trillion, a PE ratio of 22.74, a PEG ratio of 1.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s fifty day moving average price is $168.47 and its two-hundred day moving average price is $170.31.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced 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 is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOGL. Wells Fargo & Company raised their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Loop Capital raised their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.