Whittier Trust Co. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 258,095 shares of the information services provider’s stock after selling 1,596 shares during the quarter. Whittier Trust Co.’s holdings in Alphabet were worth $42,805,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of GOOGL. Stewardship Advisors LLC acquired a new position in Alphabet in the 3rd quarter valued at $533,000. Northwest Investment Counselors LLC grew its stake in shares of Alphabet by 0.8% in the third quarter. Northwest Investment Counselors LLC now owns 17,742 shares of the information services provider’s stock valued at $2,943,000 after acquiring an additional 147 shares in the last quarter. Little House Capital LLC grew its stake in shares of Alphabet by 15.9% in the third quarter. Little House Capital LLC now owns 63,422 shares of the information services provider’s stock valued at $10,519,000 after acquiring an additional 8,706 shares in the last quarter. Kennedy Investment Group increased its position in Alphabet by 4.0% during the third quarter. Kennedy Investment Group now owns 6,713 shares of the information services provider’s stock worth $1,113,000 after acquiring an additional 256 shares during the period. Finally, NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd raised its stake in Alphabet by 1,832.7% in the 3rd quarter. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd now owns 198,879 shares of the information services provider’s stock worth $32,983,000 after purchasing an additional 188,589 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Down 1.9 %
Alphabet stock opened at $171.11 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 company has a market capitalization of $2.11 trillion, a PE ratio of 26.24, a PEG ratio of 1.27 and a beta of 1.04. The firm’s fifty day moving average is $162.32 and its 200 day moving average is $168.79. Alphabet Inc. has a 12-month low of $122.68 and a 12-month high of $191.75.
Alphabet Announces Dividend
The company also recently disclosed 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. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on GOOGL. Citigroup raised their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Finally, Guggenheim raised their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.51.
Get Our Latest Stock Report on GOOGL
Insider Activity
In other Alphabet news, 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 owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,744 shares of company stock worth $35,878,764 over the last quarter. 11.55% of the stock is currently owned by corporate insiders.
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.
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