Greenwich Wealth Management LLC Has $1.19 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Greenwich Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,167 shares of the information services provider’s stock after selling 257 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Alphabet were worth $1,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of GOOGL. Fullcircle Wealth LLC lifted its position in shares of Alphabet by 0.6% during the third quarter. Fullcircle Wealth LLC now owns 12,307 shares of the information services provider’s stock valued at $2,052,000 after purchasing an additional 69 shares in the last quarter. Ceredex Value Advisors LLC increased its stake in Alphabet by 44.6% in 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 buying an additional 72,536 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Alphabet by 1.2% during the 3rd 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 in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Alphabet by 9.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 117,365 shares of the information services provider’s stock worth $19,463,000 after buying an additional 10,044 shares during the last quarter. Finally, Dash Acquisitions Inc. grew its holdings in shares of Alphabet by 0.7% in 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 in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL 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 stock’s 50 day simple moving average is $164.82 and its 200 day simple moving average is $170.04. The firm has a market cap of $2.15 trillion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.29 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its 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 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 firm earned $1.55 earnings per share. As a group, analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

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 issued 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 is currently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of 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 sold 206,795 shares of company stock valued at $34,471,141 in the last 90 days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOGL. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Loop Capital increased their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, JMP Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.