Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 79,186 shares of the information services provider’s stock after selling 2,427 shares during the period. Alphabet makes up approximately 0.6% of Hennion & Walsh Asset Management Inc.’s holdings, making the stock its 24th largest holding. Hennion & Walsh Asset Management Inc.’s holdings in Alphabet were worth $13,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Financial Security Advisor Inc. grew its stake in shares of Alphabet by 2.1% during the first quarter. Financial Security Advisor Inc. now owns 31,416 shares of the information services provider’s stock valued at $4,742,000 after acquiring an additional 635 shares in the last quarter. Quattro Financial Advisors LLC grew its stake in Alphabet by 48,200.7% during the 1st quarter. Quattro Financial Advisors LLC now owns 67,621 shares of the information services provider’s stock valued at $10,206,000 after purchasing an additional 67,481 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. grew its stake in Alphabet by 0.8% during the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 754,624 shares of the information services provider’s stock valued at $113,895,000 after purchasing an additional 6,290 shares in the last quarter. Shira Ridge Wealth Management increased its holdings in Alphabet by 2.4% during the 1st quarter. Shira Ridge Wealth Management now owns 5,481 shares of the information services provider’s stock worth $827,000 after purchasing an additional 128 shares during the last quarter. Finally, Nvest Financial LLC raised its position in shares of Alphabet by 1.4% in the 1st quarter. Nvest Financial LLC now owns 26,751 shares of the information services provider’s stock valued at $4,038,000 after purchasing an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. KeyCorp lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Evercore ISI increased their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seven 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Trading Up 0.1 %

Shares of Alphabet stock opened at $171.29 on Monday. The business has a fifty day simple moving average of $162.43 and a 200-day simple moving average of $169.10. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $126.93 and a fifty-two week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the company earned $1.55 EPS. On average, equities analysts forecast that Alphabet Inc. will post 7.91 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 230,244 shares of company stock worth $37,776,954. 11.55% of the stock is owned by 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.