Coastline Trust Co Sells 13,160 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Coastline Trust Co lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 157,390 shares of the information services provider’s stock after selling 13,160 shares during the quarter. Alphabet makes up about 3.1% of Coastline Trust Co’s portfolio, making the stock its 7th biggest holding. Coastline Trust Co’s holdings in Alphabet were worth $26,103,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Bank of Marin grew its stake in shares of Alphabet by 4.1% in the 3rd quarter. Bank of Marin now owns 13,050 shares of the information services provider’s stock worth $2,164,000 after purchasing an additional 518 shares during the last quarter. Valley Wealth Managers Inc. grew its stake in shares of Alphabet by 1.7% in the 3rd quarter. Valley Wealth Managers Inc. now owns 141,204 shares of the information services provider’s stock worth $23,419,000 after purchasing an additional 2,426 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Alphabet by 6.6% in the third quarter. Empowered Funds LLC now owns 224,437 shares of the information services provider’s stock worth $37,223,000 after buying an additional 13,799 shares during the period. Empirical Finance LLC boosted its holdings in shares of Alphabet by 2.2% in the third quarter. Empirical Finance LLC now owns 213,673 shares of the information services provider’s stock worth $35,438,000 after buying an additional 4,522 shares during the period. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Alphabet by 14.8% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 75,824 shares of the information services provider’s stock worth $12,575,000 after buying an additional 9,759 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. This represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Down 0.2 %

NASDAQ:GOOGL opened at $168.95 on Friday. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm has a market cap of $2.07 trillion, a price-to-earnings 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. The company’s 50 day moving average is $168.47 and its 200-day moving average is $170.33.

Alphabet (NASDAQ:GOOGL) last announced 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 net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date 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%.

Wall Street Analyst Weigh In

Several research analysts have commented on GOOGL shares. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. JMP Securities raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Finally, Evercore ISI raised their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seven research 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.90.

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.