Baxter Bros Inc. Sells 2,986 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Baxter Bros Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,278 shares of the information services provider’s stock after selling 2,986 shares during the quarter. Alphabet comprises 2.4% of Baxter Bros Inc.’s holdings, making the stock its 12th largest position. Baxter Bros Inc.’s holdings in Alphabet were worth $18,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its position in Alphabet by 1.8% in the third quarter. Janney Montgomery Scott LLC now owns 1,839,604 shares of the information services provider’s stock valued at $305,098,000 after buying an additional 33,405 shares in the last quarter. Indie Asset Partners LLC grew its position in shares of Alphabet by 19.1% during the 3rd quarter. Indie Asset Partners LLC now owns 5,775 shares of the information services provider’s stock valued at $958,000 after acquiring an additional 926 shares during the period. Prossimo Advisors LLC lifted its stake in shares of Alphabet by 2.6% during the 3rd quarter. Prossimo Advisors LLC now owns 28,978 shares of the information services provider’s stock valued at $4,806,000 after buying an additional 740 shares in the last quarter. Royal Harbor Partners LLC lifted its stake in Alphabet by 1.6% in the 3rd quarter. Royal Harbor Partners LLC now owns 18,881 shares of the information services provider’s stock worth $3,131,000 after purchasing an additional 303 shares in the last quarter. Finally, Conning Inc. raised its position in shares of Alphabet by 5.3% during the 3rd quarter. Conning Inc. now owns 70,991 shares of the information services provider’s stock valued at $11,774,000 after buying an additional 3,560 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

GOOGL opened at $172.49 on Friday. The stock has a market cap of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. 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 fifty day moving average price of $165.18 and a 200 day moving average price of $170.08.

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

Alphabet Announces Dividend

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 given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOGL. The Goldman Sachs Group cut their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup upped their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, KeyCorp increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,471,141 over the last ninety days. Company insiders own 11.55% of the company’s stock.

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.