Nightview Capital LLC Sells 4,591 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Nightview Capital LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.2% in the third quarter, Holdings Channel.com reports. The firm owned 14,350 shares of the information services provider’s stock after selling 4,591 shares during the period. Alphabet comprises approximately 1.9% of Nightview Capital LLC’s investment portfolio, making the stock its 3rd biggest holding. Nightview Capital LLC’s holdings in Alphabet were worth $2,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Schear Investment Advisers LLC boosted its holdings in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC boosted its stake in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in shares of Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after buying an additional 5,516 shares during the last quarter. abrdn plc grew its holdings in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. increased its position in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. KeyCorp upped their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Pivotal Research boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were 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 $4,529,987.28. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,623 shares of company stock worth $34,413,006 in the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Stock Down 1.1 %

Shares of NASDAQ GOOGL opened at $189.82 on Friday. The stock has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a PEG ratio of 1.39 and a beta of 1.01. 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 firm’s 50 day simple moving average is $171.63 and its two-hundred day simple moving average is $170.71.

Alphabet (NASDAQ:GOOGL) last issued its 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. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company earned $1.55 EPS. As a group, analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.