Navellier & Associates Inc. Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Navellier & Associates Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,595 shares of the information services provider’s stock after selling 350 shares during the period. Navellier & Associates Inc.’s holdings in Alphabet were worth $1,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Blackhawk Capital Partners LLC. boosted its position in shares of Alphabet by 9.5% during the 3rd quarter. Blackhawk Capital Partners LLC. now owns 30,242 shares of the information services provider’s stock worth $5,016,000 after purchasing an additional 2,612 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Alphabet by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 552,019 shares of the information services provider’s stock worth $91,552,000 after purchasing an additional 23,333 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of Alphabet by 29.5% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 5,189 shares of the information services provider’s stock worth $861,000 after purchasing an additional 1,181 shares in the last quarter. Makena Capital Management LLC boosted its position in shares of Alphabet by 0.3% during the 3rd quarter. Makena Capital Management LLC now owns 91,834 shares of the information services provider’s stock worth $15,231,000 after purchasing an additional 314 shares in the last quarter. Finally, German American Bancorp Inc. boosted its position in shares of Alphabet by 6.9% during the 3rd quarter. German American Bancorp Inc. now owns 201,974 shares of the information services provider’s stock worth $33,497,000 after purchasing an additional 12,966 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,802 shares of the company’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 value of $2,780,226.94. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 in the last 90 days. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Evercore ISI lifted their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Down 1.0 %

Shares of NASDAQ:GOOGL opened at $172.64 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $191.75. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.90, a PEG ratio of 1.21 and a beta of 1.01. The stock has a 50-day simple moving average of $169.30 and a 200-day simple moving average of $170.31.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Equities analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

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 $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 is presently 10.61%.

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.