Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by CMG Global Holdings LLC

CMG Global Holdings LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,362 shares of the information services provider’s stock after selling 117 shares during the period. CMG Global Holdings LLC’s holdings in Alphabet were worth $723,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. International Assets Investment Management LLC lifted its holdings in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after buying an additional 18,700,111 shares during the period. SG Americas Securities LLC grew its holdings in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. raised its position in Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the period. Finally, PineStone Asset Management Inc. boosted its position in Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $174.71 on Friday. The company has a market cap of $2.14 trillion, a P/E ratio of 23.17, a PEG ratio of 1.21 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average price is $169.30 and its 200 day moving average price is $170.31.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,624 shares of company stock worth $27,803,730. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOGL shares. Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. KeyCorp lifted their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Morgan Stanley boosted their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein increased their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.