Border to Coast Pensions Partnership Ltd Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Border to Coast Pensions Partnership Ltd decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,169,281 shares of the information services provider’s stock after selling 17,856 shares during the period. Alphabet comprises 3.9% of Border to Coast Pensions Partnership Ltd’s portfolio, making the stock its 6th biggest holding. Border to Coast Pensions Partnership Ltd’s holdings in Alphabet were worth $193,359,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% in the second 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 period. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the first quarter worth approximately $30,000. Kings Path Partners LLC acquired a new position in Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC bought a new position in Alphabet in the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOGL stock opened at $171.11 on Friday. Alphabet Inc. has a 1-year low of $122.68 and a 1-year high of $191.75. 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 $162.32 and a 200-day moving average price of $168.79. The firm has a market cap of $2.11 trillion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the firm earned $1.55 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 7.65 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the transaction, the director now directly owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,744 shares of company stock worth $35,878,764 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOOGL. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Sanford C. Bernstein boosted their price target on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.51.

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.