Lombard Odier Asset Management USA Corp Sells 3,500 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lombard Odier Asset Management USA Corp lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 43.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,560 shares of the information services provider’s stock after selling 3,500 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Alphabet were worth $831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. American International Group Inc. grew its holdings in shares of Alphabet by 11.5% during the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock worth $272,655,000 after buying an additional 200,891 shares in the last quarter. Pinebridge Investments L.P. boosted its position in Alphabet by 9.5% during the 4th quarter. Pinebridge Investments L.P. now owns 1,957,186 shares of the information services provider’s stock worth $273,401,000 after acquiring an additional 170,378 shares during the last quarter. Exencial Wealth Advisors LLC grew its stake in shares of Alphabet by 2.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 130,848 shares of the information services provider’s stock worth $18,278,000 after acquiring an additional 3,231 shares in the last quarter. Aristides Capital LLC raised its holdings in shares of Alphabet by 32.7% in the fourth quarter. Aristides Capital LLC now owns 64,960 shares of the information services provider’s stock valued at $9,074,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its position in shares of Alphabet by 5.1% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 14,430 shares of the information services provider’s stock worth $2,016,000 after purchasing an additional 695 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,592 shares of company stock worth $35,922,911. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $167.06 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a 50-day simple moving average of $162.06 and a two-hundred day simple moving average of $167.28.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the business earned $1.44 earnings per share. Analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Guggenheim raised their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wolfe Research began coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Roth Mkm restated a “buy” rating and issued a $206.00 price target on shares of Alphabet in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

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.