Mizuho Securities USA LLC Sells 72,980 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mizuho Securities USA LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379,925 shares of the information services provider’s stock after selling 72,980 shares during the quarter. Mizuho Securities USA LLC’s holdings in Alphabet were worth $63,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TSA Wealth Managment LLC increased its position in Alphabet by 12.1% during the third quarter. TSA Wealth Managment LLC now owns 1,498 shares of the information services provider’s stock valued at $248,000 after acquiring an additional 162 shares during the last quarter. Koa Wealth Management LLC increased its position in Alphabet by 0.4% during the third quarter. Koa Wealth Management LLC now owns 38,557 shares of the information services provider’s stock valued at $6,395,000 after acquiring an additional 163 shares during the last quarter. Ipswich Investment Management Co. Inc. increased its position in Alphabet by 0.3% during the third quarter. Ipswich Investment Management Co. Inc. now owns 60,794 shares of the information services provider’s stock valued at $10,083,000 after acquiring an additional 165 shares during the last quarter. Nicollet Investment Management Inc. increased its position in Alphabet by 2.9% during the third quarter. Nicollet Investment Management Inc. now owns 49,800 shares of the information services provider’s stock valued at $8,259,000 after acquiring an additional 1,415 shares during the last quarter. Finally, Mizuho Markets Cayman LP increased its position in Alphabet by 22.7% during the third quarter. Mizuho Markets Cayman LP now owns 36,529 shares of the information services provider’s stock valued at $6,058,000 after acquiring an additional 6,759 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GOOGL shares. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Wedbush restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley upped their price target on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seven investment 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 stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s 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 transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock valued at $34,673,866. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $168.95 on Friday. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.20 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 business has a 50 day simple moving average of $168.47 and a 200-day simple moving average of $170.33. 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 issued 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company earned $1.55 EPS. Equities analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.