Diversified LLC Sells 183 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Diversified LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,729 shares of the information services provider’s stock after selling 183 shares during the quarter. Diversified LLC’s holdings in Alphabet were worth $2,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lantz Financial LLC boosted its stake in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after buying an additional 452 shares during the period. Simplicity Wealth LLC raised its holdings in shares of Alphabet by 3.7% in the 2nd quarter. Simplicity Wealth LLC now owns 163,814 shares of the information services provider’s stock valued at $29,839,000 after acquiring an additional 5,857 shares in the last quarter. Founders Capital Management boosted its position in shares of Alphabet by 6.3% during the 2nd quarter. Founders Capital Management now owns 1,685 shares of the information services provider’s stock valued at $307,000 after acquiring an additional 100 shares during the last quarter. Legacy Financial Strategies LLC grew its holdings in shares of Alphabet by 14.0% during the second quarter. Legacy Financial Strategies LLC now owns 5,981 shares of the information services provider’s stock worth $1,111,000 after purchasing an additional 736 shares in the last quarter. Finally, Indiana Trust & Investment Management CO increased its position in shares of Alphabet by 3.1% in the second quarter. Indiana Trust & Investment Management CO now owns 50,432 shares of the information services provider’s stock worth $9,186,000 after purchasing an additional 1,518 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Sanford C. Bernstein lifted their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Morgan Stanley increased their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JMP Securities increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Seven investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on 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 sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,624 shares of company stock worth $27,803,730. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $174.71 on Monday. The firm has a 50-day moving average of $169.51 and a 200 day moving average of $170.20. 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 company has a market cap of $2.14 trillion, a P/E ratio of 23.17, a PEG ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend 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.