EULAV Asset Management Sells 24,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

EULAV Asset Management lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,000 shares of the information services provider’s stock after selling 24,000 shares during the period. EULAV Asset Management’s holdings in Alphabet were worth $24,048,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Loop Capital upped their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Tigress Financial upped 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. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 of the company’s stock, valued at approximately $339,713,977.55. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the transaction, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. This trade represents a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,624 shares of company stock valued at $27,803,730 in the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Stock Up 1.8 %

Shares of NASDAQ:GOOGL opened at $174.37 on Thursday. 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 Inc. has a 12 month low of $128.25 and a 12 month high of $191.75. The company has a market cap of $2.13 trillion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.22 and a beta of 1.01. The company has a 50-day moving average price of $169.10 and a 200 day moving average price of $170.29.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the company posted $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) 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.