Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Shayne & Jacobs LLC

Shayne & Jacobs LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,867 shares of the information services provider’s stock after selling 720 shares during the period. Alphabet comprises 1.1% of Shayne & Jacobs LLC’s investment portfolio, making the stock its 13th largest holding. Shayne & Jacobs LLC’s holdings in Alphabet were worth $4,456,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Tarbox Family Office Inc. increased its position in Alphabet by 10.2% during the third quarter. Tarbox Family Office Inc. now owns 5,403 shares of the information services provider’s stock worth $896,000 after buying an additional 499 shares during the last quarter. Sigma Investment Counselors Inc. increased its position in Alphabet by 2.0% during the third quarter. Sigma Investment Counselors Inc. now owns 38,670 shares of the information services provider’s stock worth $6,413,000 after acquiring an additional 760 shares during the period. BayBridge Capital Group LLC lifted its stake in shares of Alphabet by 19.4% in the third quarter. BayBridge Capital Group LLC now owns 12,011 shares of the information services provider’s stock valued at $1,992,000 after buying an additional 1,949 shares during the period. Pettinga Financial Advisors LLC increased its position in shares of Alphabet by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after purchasing an additional 201 shares during the period. Finally, Mediolanum International Funds Ltd lifted its holdings in shares of Alphabet by 0.9% during the 3rd quarter. Mediolanum International Funds Ltd now owns 1,050,909 shares of the information services provider’s stock worth $172,011,000 after acquiring an additional 9,223 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $176.51 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.17 trillion, a P/E ratio of 23.41, a P/E/G ratio of 1.20 and a beta of 1.03. The firm has a 50-day moving average price of $162.86 and a two-hundred day moving average price of $169.36. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

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 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 prior year, the business posted $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. 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, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated 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 sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,052 shares of company stock worth $38,424,448 over the last 90 days. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOGL. Morgan Stanley boosted their price target on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Company 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.