Martingale Asset Management L P Has $56.46 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Martingale Asset Management L P reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,450 shares of the information services provider’s stock after selling 31,871 shares during the period. Alphabet makes up 1.3% of Martingale Asset Management L P’s holdings, making the stock its 3rd largest position. Martingale Asset Management L P’s holdings in Alphabet were worth $56,464,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Isthmus Partners LLC purchased a new stake in shares of Alphabet in the third quarter worth about $436,000. Hantz Financial Services Inc. lifted its position in Alphabet by 10.6% during the third quarter. Hantz Financial Services Inc. now owns 192,505 shares of the information services provider’s stock worth $31,927,000 after buying an additional 18,453 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet during the third quarter worth approximately $66,000. Pin Oak Investment Advisors Inc. raised its position in Alphabet by 0.6% in the third quarter. Pin Oak Investment Advisors Inc. now owns 13,946 shares of the information services provider’s stock valued at $2,312,000 after purchasing an additional 81 shares during the period. Finally, Vinva Investment Management Ltd raised its position in Alphabet by 12.8% in the third quarter. Vinva Investment Management Ltd now owns 288,771 shares of the information services provider’s stock valued at $47,344,000 after purchasing an additional 32,787 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the sale, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,923 shares of company stock valued at $34,244,676 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 5.6 %

Shares of NASDAQ GOOGL opened at $185.17 on Wednesday. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $191.75. The company has a market cap of $2.27 trillion, a P/E ratio of 24.56, a P/E/G ratio of 1.24 and a beta of 1.01. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $169.70 and a 200 day moving average price of $170.21.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the firm earned $1.55 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Finally, JMP Securities upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.03.

Alphabet 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.