X Square Capital LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

X Square Capital LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,511 shares of the information services provider’s stock after selling 190 shares during the quarter. X Square Capital LLC’s holdings in Alphabet were worth $583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Financial Security Advisor Inc. grew its stake in Alphabet by 2.1% in 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 purchasing an additional 635 shares during the last quarter. Quattro Financial Advisors LLC raised its stake in shares of 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 worth $10,206,000 after acquiring an additional 67,481 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its position in Alphabet by 0.8% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 754,624 shares of the information services provider’s stock valued at $113,895,000 after acquiring an additional 6,290 shares during the last quarter. Shira Ridge Wealth Management boosted its stake in Alphabet by 2.4% in the first quarter. Shira Ridge Wealth Management now owns 5,481 shares of the information services provider’s stock valued at $827,000 after acquiring an additional 128 shares in the last quarter. Finally, Nvest Financial LLC grew its holdings in Alphabet by 1.4% in the first quarter. Nvest Financial LLC now owns 26,751 shares of the information services provider’s stock worth $4,038,000 after purchasing an additional 370 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $171.29 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The company’s fifty day moving average price is $162.43 and its 200 day moving average price is $169.10. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a 1 year low of $126.93 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 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the company earned $1.55 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GOOGL shares. TD Securities raised their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Evercore ISI boosted their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price objective on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $205.51.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,244 shares of company stock valued at $37,776,954 over the last ninety days. Insiders own 11.55% of the company’s stock.

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.