Guinness Asset Management LTD Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Guinness Asset Management LTD lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 213,323 shares of the information services provider’s stock after selling 3,734 shares during the period. Guinness Asset Management LTD’s holdings in Alphabet were worth $35,373,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wynn Capital LLC grew its stake in Alphabet by 3.9% during the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after buying an additional 67 shares during the last quarter. PFW Advisors LLC boosted its holdings in shares of Alphabet by 8.0% in the first quarter. PFW Advisors LLC now owns 7,096 shares of the information services provider’s stock valued at $1,071,000 after acquiring an additional 524 shares during the period. Midwest Financial Group LLC purchased a new position in shares of Alphabet during the first quarter worth approximately $595,000. Eldred Rock Partners LLC increased its holdings in shares of Alphabet by 1.0% in the 1st quarter. Eldred Rock Partners LLC now owns 80,024 shares of the information services provider’s stock valued at $12,078,000 after acquiring an additional 801 shares during the period. Finally, Cardano Risk Management B.V. raised its position in Alphabet by 6.7% in the 1st quarter. Cardano Risk Management B.V. now owns 1,201,341 shares of the information services provider’s stock valued at $181,318,000 after purchasing an additional 75,131 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GOOGL. Bank of America lifted their price objective on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Roth Mkm reaffirmed a “buy” rating and set a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Wolfe Research started coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.3 %

Alphabet stock opened at $163.42 on Monday. The stock has a market cap of $2.02 trillion, a PE ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $161.77 and a 200 day moving average price of $168.25. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business 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 firm posted $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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.