Alphabet Inc. (NASDAQ:GOOGL) Holdings Cut by BluePath Capital Management LLC

BluePath Capital Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,119 shares of the information services provider’s stock after selling 114 shares during the quarter. BluePath Capital Management LLC’s holdings in Alphabet were worth $517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Ceredex Value Advisors LLC boosted its position in Alphabet by 44.6% during the 3rd quarter. Ceredex Value Advisors LLC now owns 235,214 shares of the information services provider’s stock valued at $39,010,000 after purchasing an additional 72,536 shares during the period. Chicago Partners Investment Group LLC increased its position in Alphabet by 1.2% in the third quarter. Chicago Partners Investment Group LLC now owns 63,801 shares of the information services provider’s stock worth $10,386,000 after buying an additional 734 shares during the period. Farther Finance Advisors LLC lifted its stake in Alphabet by 9.4% in the third quarter. Farther Finance Advisors LLC now owns 117,365 shares of the information services provider’s stock valued at $19,463,000 after buying an additional 10,044 shares during the last quarter. Dash Acquisitions Inc. boosted its holdings in shares of Alphabet by 0.7% during the third quarter. Dash Acquisitions Inc. now owns 9,656 shares of the information services provider’s stock valued at $1,596,000 after acquiring an additional 67 shares during the period. Finally, Weatherly Asset Management L. P. grew its position in shares of Alphabet by 2.6% during the third quarter. Weatherly Asset Management L. P. now owns 107,148 shares of the information services provider’s stock worth $17,770,000 after acquiring an additional 2,731 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.8 %

GOOGL stock opened at $175.58 on Friday. 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 firm has a market capitalization of $2.15 trillion, a P/E ratio of 23.29, a P/E/G ratio of 1.29 and a beta of 1.03. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company’s 50 day simple moving average is $164.82 and its 200-day simple moving average is $170.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the business earned $1.55 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS 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 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOGL. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. KeyCorp boosted their price objective on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Guggenheim raised their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group reduced their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.