Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Signify Wealth

Signify Wealth cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,475 shares of the information services provider’s stock after selling 1,486 shares during the quarter. Alphabet accounts for 5.0% of Signify Wealth’s investment portfolio, making the stock its 7th biggest holding. Signify Wealth’s holdings in Alphabet were worth $4,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after acquiring an additional 41,880 shares during the last quarter. Quent Capital LLC increased its stake in Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after purchasing an additional 1,072 shares during the last quarter. Empowered Funds LLC increased its stake in Alphabet by 12.3% in the first quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider’s stock valued at $28,351,000 after purchasing an additional 20,572 shares during the last quarter. Atomi Financial Group Inc. increased its stake in Alphabet by 27.4% in the first quarter. Atomi Financial Group Inc. now owns 34,871 shares of the information services provider’s stock valued at $5,263,000 after purchasing an additional 7,507 shares during the last quarter. Finally, Nixon Peabody Trust Co. increased its stake in Alphabet by 4.9% in the first quarter. Nixon Peabody Trust Co. now owns 113,126 shares of the information services provider’s stock valued at $17,074,000 after purchasing an additional 5,268 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $172.49 on Monday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The firm has a market capitalization 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 business has a 50 day simple moving average of $165.61 and a 200 day simple moving average of $170.22. 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 (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates 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 company posted $1.55 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other 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 transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on 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 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. In the last ninety days, insiders sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on GOOGL shares. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Piper Sandler reiterated an “overweight” rating and issued a $210.00 target price (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.