Glen Eagle Advisors LLC Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Glen Eagle Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 34,394 shares of the information services provider’s stock after selling 555 shares during the period. Alphabet makes up about 1.0% of Glen Eagle Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Glen Eagle Advisors LLC’s holdings in Alphabet were worth $5,704,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Lantz Financial LLC lifted its stake in Alphabet by 10.8% in the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after acquiring an additional 452 shares during the period. Spectrum Wealth Advisory Group LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $218,000. Maia Wealth LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $5,474,000. Diversified Trust Co lifted its position in shares of Alphabet by 23.7% in the 2nd quarter. Diversified Trust Co now owns 241,932 shares of the information services provider’s stock worth $44,068,000 after purchasing an additional 46,338 shares during the period. Finally, Ipswich Investment Management Co. Inc. boosted its stake in shares of Alphabet by 1.3% during the second quarter. Ipswich Investment Management Co. Inc. now owns 60,629 shares of the information services provider’s stock valued at $11,044,000 after purchasing an additional 790 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.1 %

Alphabet stock opened at $189.82 on Monday. 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 firm has a market cap of $2.32 trillion, a PE ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. The stock’s 50 day simple moving average is $171.63 and its two-hundred day simple moving average is $170.63. Alphabet Inc. has a 12 month low of $129.68 and a 12 month high of $195.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating 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 company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the business earned $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the transaction, the insider now directly owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. This trade represents a 27.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,623 shares of company stock valued at $34,413,006. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. KeyCorp upped their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Loop Capital upped their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Tigress Financial increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $206.08.

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.