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

NorthRock Partners LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 53,982 shares of the information services provider’s stock after selling 7,258 shares during the period. Alphabet accounts for about 0.8% of NorthRock Partners LLC’s holdings, making the stock its 21st biggest holding. NorthRock Partners LLC’s holdings in Alphabet were worth $8,953,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Christopher J. Hasenberg Inc increased its stake 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 purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth $41,000. Quarry LP acquired a new position in shares of Alphabet during the 2nd quarter valued at about $53,000. Finally, Summit Securities Group LLC purchased a new position in Alphabet during the second quarter worth approximately $55,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were 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 of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Morgan Stanley increased their price objective on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Bank of America boosted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. DA Davidson started coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. 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, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Up 1.6 %

Shares of GOOGL opened at $175.30 on Tuesday. The firm has a market cap of $2.15 trillion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The firm has a 50 day moving average price of $166.15 and a 200-day moving average price of $170.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the company posted $1.55 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

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

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.