Jensen Investment Management Inc. Sells 965,024 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Jensen Investment Management Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 20.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,746,210 shares of the information services provider’s stock after selling 965,024 shares during the period. Alphabet comprises 5.2% of Jensen Investment Management Inc.’s holdings, making the stock its 6th largest position. Jensen Investment Management Inc.’s holdings in Alphabet were worth $621,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% in the second 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 during the period. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter valued at approximately $41,000. Quarry LP purchased a new position in shares of Alphabet in the second quarter valued at approximately $53,000. Finally, Summit Securities Group LLC purchased a new position in shares of Alphabet in the second quarter valued at approximately $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the 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 directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.7 %

Shares of NASDAQ:GOOGL opened at $164.76 on Monday. The stock has a market capitalization of $2.02 trillion, a PE 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 firm has a fifty day moving average price of $167.64 and a 200 day moving average price of $170.36. 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 (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. 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 in the prior year, the company posted $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOOGL. Truist Financial lifted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein lifted their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. KeyCorp lifted their price objective on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Seven equities 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet 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.