Mutual Advisors LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mutual Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,500 shares of the information services provider’s stock after selling 438 shares during the period. Alphabet comprises 0.7% of Mutual Advisors LLC’s investment portfolio, making the stock its 20th largest position. Mutual Advisors LLC’s holdings in Alphabet were worth $25,466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its holdings in Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after buying an additional 41,880 shares during the period. Quent Capital LLC raised its stake in shares of Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC boosted its holdings in shares of Alphabet by 9.5% during the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 10,325 shares of the information services provider’s stock valued at $1,558,000 after acquiring an additional 898 shares during the last quarter. Magnolia Capital Advisors LLC lifted its holdings in shares of Alphabet by 12.6% during the 1st quarter. Magnolia Capital Advisors LLC now owns 20,123 shares of the information services provider’s stock valued at $3,101,000 after buying an additional 2,259 shares during the period. Finally, Pacific Wealth Strategies Group Inc. grew its stake in shares of Alphabet by 2.6% during the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 23,391 shares of the information services provider’s stock valued at $3,530,000 after purchasing an additional 595 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.1 %

Alphabet stock opened at $180.35 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50 day simple moving average of $163.54 and a 200-day simple moving average of $169.74. The stock has a market capitalization of $2.21 trillion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the business earned $1.55 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Guggenheim upped their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Piper Sandler restated an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 241,752 shares of company stock worth $40,156,829 in the last 90 days. Insiders own 11.55% of the company’s stock.

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.