Alphabet Inc. (NASDAQ:GOOGL) is Hemenway Trust Co LLC’s 4th Largest Position

Hemenway Trust Co LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 304,057 shares of the information services provider’s stock after selling 10,101 shares during the quarter. Alphabet comprises approximately 4.0% of Hemenway Trust Co LLC’s holdings, making the stock its 4th largest holding. Hemenway Trust Co LLC’s holdings in Alphabet were worth $50,428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc increased its position 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 acquiring an additional 60 shares during the period. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the 2nd quarter worth $41,000. Quarry LP purchased a new stake in shares of Alphabet during the 2nd quarter worth $53,000. Finally, Summit Securities Group LLC purchased a new position in Alphabet in the second quarter valued at about $55,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOGL stock opened at $169.12 on Wednesday. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm has a 50 day moving average of $168.03 and a two-hundred day moving average of $170.35. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 1.17 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 (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during 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 in the previous year, the business earned $1.55 EPS. As a group, equities analysts anticipate 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. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is 10.61%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the subject of several recent analyst reports. DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Tigress Financial lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Loop Capital upped their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Truist Financial upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Bank of America raised their target price on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

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.