Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 267,773 shares of the information services provider’s stock after selling 4,619 shares during the period. Alphabet accounts for 2.7% of Lmcg Investments LLC’s investment portfolio, making the stock its 4th largest position. Lmcg Investments LLC’s holdings in Alphabet were worth $44,410,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. New Hampshire Trust grew its position in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the period. Berkshire Money Management Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP grew its holdings in shares of Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after purchasing an additional 2,351 shares during the period. Trinity Financial Advisors LLC increased its position in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the last quarter. Finally, abrdn plc raised its holdings in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $175.58 on Friday. The company has a fifty day moving average of $164.82 and a two-hundred day moving average of $170.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company has a market capitalization of $2.15 trillion, a PE ratio of 23.29, a P/E/G ratio of 1.29 and a beta of 1.03.

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 analysts’ consensus estimates 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 prior year, the firm earned $1.55 EPS. As a group, analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm 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 dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GOOGL shares. UBS Group lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group lowered 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. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Mizuho raised their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 8.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,471,141 in the last ninety days. 11.55% of the stock is currently owned by company 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.