Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Geneva Partners LLC

Geneva Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,126 shares of the information services provider’s stock after selling 5,964 shares during the period. Alphabet accounts for approximately 4.5% of Geneva Partners LLC’s holdings, making the stock its 6th largest holding. Geneva Partners LLC’s holdings in Alphabet were worth $10,469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter valued at $41,000. Quarry LP bought a new position in Alphabet in the 2nd quarter valued at $53,000. Finally, Summit Securities Group LLC bought a new position in Alphabet in the 2nd quarter valued at $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent research reports. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price target on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. The trade was a 35.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,471,141 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $172.49 on Monday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. 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 moving average is $165.61 and its 200-day moving average is $170.22.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Equities analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is 10.61%.

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.