Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Norden Group LLC

Norden Group LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,403 shares of the information services provider’s stock after selling 202 shares during the period. Alphabet comprises 1.0% of Norden Group LLC’s portfolio, making the stock its 21st largest position. Norden Group LLC’s holdings in Alphabet were worth $5,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc increased 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 worth $26,000 after purchasing an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the first quarter worth $30,000. Kings Path Partners LLC acquired a new stake in Alphabet in the second quarter valued at $36,000. Finally, Denver PWM LLC bought a new position in Alphabet during the 2nd quarter valued at $41,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold 180,167 shares of company stock valued at $29,762,606 in the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.9 %

Alphabet stock opened at $163.59 on Friday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.02 trillion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The firm has a 50 day simple moving average of $164.72 and a 200-day simple moving average of $165.55.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the firm earned $1.44 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GOOGL shares. Mizuho boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Citigroup boosted their price objective on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. UBS Group boosted their price target on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Piper Sandler reduced their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.08.

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.