Rovin Capital UT ADV Sells 888 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Rovin Capital UT ADV reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,657 shares of the information services provider’s stock after selling 888 shares during the quarter. Rovin Capital UT ADV’s holdings in Alphabet were worth $1,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. New Hampshire Trust lifted its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Trinity Financial Advisors LLC raised its stake in shares of Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares during the period. abrdn plc lifted its position in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares in the last quarter. StoneCrest Wealth Management Inc. grew its stake in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares during the period. Finally, EWG Elevate Inc. increased its holdings in Alphabet by 9.7% in the 3rd quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock worth $216,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Down 1.7 %

GOOGL stock opened at $164.76 on Friday. The firm’s fifty day simple moving average is $167.64 and its two-hundred day simple moving average is $170.36. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm posted $1.55 EPS. As a group, analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock valued at $34,673,866. Insiders own 11.55% of the company’s stock.

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.