Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,792 shares of the information services provider’s stock after selling 135 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Alphabet were worth $27,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter worth about $41,000. Quarry LP purchased a new stake in Alphabet during the second quarter valued at about $53,000. Finally, Summit Securities Group LLC purchased a new position in shares of Alphabet in the second quarter worth approximately $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOGL opened at $168.95 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $168.47 and its 200-day simple moving average is $170.31. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a market cap of $2.07 trillion, a PE ratio of 22.41, a P/E/G ratio of 1.20 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the company earned $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. JMP Securities raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. KeyCorp raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is currently owned by corporate insiders.

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.