Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Riverstone Advisors LLC

Riverstone Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,472 shares of the information services provider’s stock after selling 1,559 shares during the period. Alphabet comprises about 8.8% of Riverstone Advisors LLC’s holdings, making the stock its 4th largest position. Riverstone Advisors LLC’s holdings in Alphabet were worth $15,171,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Loop Capital boosted their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Evercore ISI increased their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Down 1.7 %

Shares of GOOGL opened at $164.76 on Monday. The firm has a market cap of $2.02 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a 50 day simple moving average of $167.64 and a two-hundred day simple moving average of $170.36. 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 announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 EPS. On average, analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,673,866 in the last three months. 11.55% of the stock is owned by corporate 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.