Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Baron Wealth Management LLC

Baron Wealth Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,699 shares of the information services provider’s stock after selling 241 shares during the quarter. Baron Wealth Management LLC’s holdings in Alphabet were worth $779,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Joseph Group Capital Management lifted its position in Alphabet by 23.1% in the third quarter. Joseph Group Capital Management now owns 22,311 shares of the information services provider’s stock worth $3,700,000 after purchasing an additional 4,181 shares during the period. Nixon Peabody Trust Co. raised its stake in shares of Alphabet by 2.1% in the 3rd quarter. Nixon Peabody Trust Co. now owns 98,783 shares of the information services provider’s stock worth $16,383,000 after buying an additional 1,995 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Alphabet by 3.9% in the third quarter. Meeder Advisory Services Inc. now owns 104,326 shares of the information services provider’s stock valued at $17,303,000 after buying an additional 3,951 shares during the period. Semus Wealth Partners LLC boosted its stake in Alphabet by 3.5% during the third quarter. Semus Wealth Partners LLC now owns 21,935 shares of the information services provider’s stock valued at $3,638,000 after buying an additional 740 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Alphabet during the third quarter worth about $72,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. DA Davidson initiated coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. KeyCorp raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Bank of America upped their price target on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Tigress Financial raised their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seven investment 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Up 1.5 %

GOOGL stock opened at $171.49 on Tuesday. The firm has a market cap of $2.10 trillion, a PE ratio of 22.74, 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 company has a fifty day simple moving average of $168.47 and a 200 day simple moving average of $170.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

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

Alphabet Announces Dividend

The business also recently declared 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. 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 (DPR) is presently 10.61%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,124 shares of company stock valued at $31,374,030 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

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.