S&CO Inc. Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

S&CO Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the third quarter, HoldingsChannel.com reports. The fund owned 105,206 shares of the information services provider’s stock after selling 4,445 shares during the quarter. Alphabet comprises 1.1% of S&CO Inc.’s investment portfolio, making the stock its 24th biggest position. S&CO Inc.’s holdings in Alphabet were worth $17,448,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter worth about $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter valued at approximately $41,000. Quarry LP purchased a new stake in shares of Alphabet during the 2nd quarter worth $53,000. Finally, Summit Securities Group LLC bought a new stake in Alphabet during the second quarter valued at about $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOGL. Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Bank of America lifted their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein increased their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Down 0.2 %

Shares of GOOGL stock opened at $168.95 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.07 trillion, a P/E ratio of 22.41, a PEG ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The firm’s 50-day simple moving average is $168.47 and its 200-day simple moving average 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 for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company posted $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity at Alphabet

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

About Alphabet

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.