Verity Asset Management Inc. Has $265,000 Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Verity Asset Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 26.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,545 shares of the information services provider’s stock after selling 556 shares during the quarter. Verity Asset Management Inc.’s holdings in Alphabet were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC bought a new position in Alphabet in the second quarter valued at about $41,000. Quarry LP acquired a new position in Alphabet in the second quarter valued at about $53,000. Finally, Summit Securities Group LLC acquired a new position in Alphabet in the second quarter valued at about $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. KeyCorp raised their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Tigress Financial raised their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, DA Davidson initiated coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

NASDAQ GOOGL opened at $167.83 on Friday. The firm’s fifty day simple moving average is $167.50 and its two-hundred day simple moving average is $170.38. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. 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 $2.05 trillion, a P/E ratio of 22.26, a P/E/G ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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 net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the company earned $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 over the last ninety days. 11.55% of the stock is currently owned by insiders.

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.