Rossmore Private Capital Sells 100 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Rossmore Private Capital lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,421 shares of the information services provider’s stock after selling 100 shares during the quarter. Alphabet accounts for about 1.4% of Rossmore Private Capital’s investment portfolio, making the stock its 18th biggest position. Rossmore Private Capital’s holdings in Alphabet were worth $11,016,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Simmons Bank grew its position in Alphabet by 2.7% in the third quarter. Simmons Bank now owns 98,562 shares of the information services provider’s stock valued at $16,347,000 after acquiring an additional 2,605 shares during the period. Community Bank & Trust Waco Texas boosted its stake in shares of Alphabet by 0.8% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 49,452 shares of the information services provider’s stock valued at $8,202,000 after purchasing an additional 393 shares in the last quarter. Haverford Trust Co grew its holdings in shares of Alphabet by 36.3% in the 3rd quarter. Haverford Trust Co now owns 912,327 shares of the information services provider’s stock worth $151,309,000 after purchasing an additional 242,906 shares during the last quarter. Empower Advisory Group LLC lifted its holdings in Alphabet by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 97,437 shares of the information services provider’s stock valued at $16,160,000 after purchasing an additional 8,165 shares during the last quarter. Finally, Moser Wealth Advisors LLC boosted its position in Alphabet by 10.2% in the third quarter. Moser Wealth Advisors LLC now owns 10,405 shares of the information services provider’s stock valued at $1,726,000 after buying an additional 960 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL opened at $169.12 on Wednesday. The stock has a 50 day simple moving average of $168.03 and a 200 day simple moving average of $170.35. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.07 trillion, a PE ratio of 22.43, a P/E/G ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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 net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced 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 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GOOGL shares. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Loop Capital lifted their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Sanford C. Bernstein upped their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.90.

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.