Weil Company Inc. Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Weil Company Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,317 shares of the information services provider’s stock after selling 663 shares during the quarter. Alphabet comprises approximately 1.6% of Weil Company Inc.’s portfolio, making the stock its 14th biggest position. Weil Company Inc.’s holdings in Alphabet were worth $4,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. New Hampshire Trust increased its holdings in Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares in the last quarter. Trinity Financial Advisors LLC boosted its holdings in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the last quarter. abrdn plc grew its stake in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares during the period. StoneCrest Wealth Management Inc. raised its holdings in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares during the last quarter. Finally, EWG Elevate Inc. raised its holdings in shares of Alphabet by 9.7% during the third quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock valued at $216,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Roth Mkm raised their target price on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. 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. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Seven equities research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $167.65 on Tuesday. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The firm has a market capitalization of $2.05 trillion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03. The company has a fifty day simple moving average of $167.83 and a two-hundred day simple moving average of $170.34. 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 (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the company posted $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend 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.