Premier Fund Managers Ltd Has $7.79 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Premier Fund Managers Ltd cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 20.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,530 shares of the information services provider’s stock after selling 11,882 shares during the period. Premier Fund Managers Ltd’s holdings in Alphabet were worth $7,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% during the second 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 during the last quarter. LMR Partners LLP acquired a new stake in Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC bought a new stake in Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $41,000. Finally, Quarry LP bought a new position in shares of Alphabet in the 2nd quarter valued at about $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.34 on Wednesday. The business has a 50-day simple moving average of $168.84 and a 200 day simple moving average of $170.26. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.22 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating 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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 issued a dividend of $0.20 per share. 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%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Evercore ISI raised their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Roth Mkm upped their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Tigress Financial raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 16,802 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. This represents a 27.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,624 shares of company stock valued at $27,803,730. Corporate insiders own 11.55% of the company’s stock.

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.