Alpha DNA Investment Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Alpha DNA Investment Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 39.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,908 shares of the information services provider’s stock after selling 3,915 shares during the period. Alpha DNA Investment Management LLC’s holdings in Alphabet were worth $980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. LMR Partners LLP bought a new position in Alphabet in the 3rd quarter worth about $32,000. Kings Path Partners LLC purchased a new position in shares of Alphabet during the second quarter worth approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the second quarter worth approximately $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet during the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.2 %

Alphabet stock opened at $174.71 on Friday. The business’s 50-day simple moving average is $169.51 and its two-hundred day simple moving average is $170.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.14 trillion, a PE ratio of 23.17, a PEG ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 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 for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is currently 10.61%.

Analysts Set New Price Targets

Several research analysts have commented on GOOGL shares. Tigress Financial raised their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Morgan Stanley raised their price target on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock valued at $27,803,730 over the last 90 days. Insiders own 11.55% of the company’s stock.

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.