Berry Wealth Group LP Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Berry Wealth Group LP decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,283 shares of the information services provider’s stock after selling 178 shares during the quarter. Berry Wealth Group LP’s holdings in Alphabet were worth $876,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GOOGL. New Hampshire Trust increased its holdings in Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP grew its position in shares of Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after buying an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC increased its stake in shares of Alphabet by 4.5% in the third 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. Finally, StoneCrest Wealth Management Inc. raised its holdings in Alphabet by 0.7% in 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 in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.9 %

Alphabet stock opened at $171.11 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The firm’s 50 day moving average price is $162.32 and its two-hundred day moving average price is $168.79. Alphabet Inc. has a 1 year low of $122.68 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released 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 net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the firm posted $1.55 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.65 EPS for the current fiscal 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 issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,744 shares of company stock worth $35,878,764. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Guggenheim boosted their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. 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 report on Wednesday. Mizuho boosted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

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.