XTX Topco Ltd Sells 2,026 Shares of Alphabet Inc. (NASDAQ:GOOGL)

XTX Topco Ltd reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,368 shares of the information services provider’s stock after selling 2,026 shares during the period. Alphabet makes up approximately 0.3% of XTX Topco Ltd’s holdings, making the stock its 23rd biggest holding. XTX Topco Ltd’s holdings in Alphabet were worth $4,041,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP acquired a new position in Alphabet during the third quarter worth $32,000. Kings Path Partners LLC bought a new position in Alphabet in the second quarter valued at $36,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter valued at $41,000. Finally, Quarry LP bought a new stake in Alphabet during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOGL shares. Sanford C. Bernstein raised their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Truist Financial raised their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. JMP Securities raised their target price 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. Finally, Piper Sandler restated an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Stock Down 1.1 %

Shares of GOOGL opened at $189.82 on Monday. The firm has a 50 day simple moving average of $171.63 and a two-hundred day simple moving average of $170.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $129.68 and a one year high of $195.61. The company has a market cap of $2.32 trillion, a P/E ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01.

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 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 company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. Research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,623 shares of company stock valued at $34,413,006. 11.55% of the stock is owned by insiders.

Alphabet 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.