Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Horan Capital Advisors LLC.

Horan Capital Advisors LLC. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,855 shares of the information services provider’s stock after selling 685 shares during the quarter. Alphabet accounts for 2.9% of Horan Capital Advisors LLC.’s investment portfolio, making the stock its 7th biggest position. Horan Capital Advisors LLC.’s holdings in Alphabet were worth $8,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. New Hampshire Trust increased its stake in Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares during the period. Schear Investment Advisers LLC grew its stake in shares of Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC increased its position in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares during the last quarter. abrdn plc lifted its stake in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. boosted its holdings in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares in the company, valued at $4,385,565. This trade represents a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,624 shares of company stock worth $27,803,730. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada upped their target price 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 issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Trading Down 0.1 %

Shares of NASDAQ:GOOGL opened at $171.34 on Wednesday. The company has a 50 day moving average of $168.84 and a 200-day moving average of $170.26. 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 firm has a market cap of $2.10 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.22 and a beta of 1.01. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

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, beating 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 posted $1.55 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 payout ratio is currently 10.61%.

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.