Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 197,998 shares of the information services provider’s stock after selling 6,477 shares during the period. Park Avenue Securities LLC’s holdings in Alphabet were worth $32,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Syon Capital LLC boosted its holdings in Alphabet by 12.0% in the fourth quarter. Syon Capital LLC now owns 41,695 shares of the information services provider’s stock valued at $5,824,000 after acquiring an additional 4,472 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its stake in shares of Alphabet by 48.7% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 2,115 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 693 shares in the last quarter. Abel Hall LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $768,000. American International Group Inc. increased its position in Alphabet by 11.5% during the 4th quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock worth $272,655,000 after purchasing an additional 200,891 shares in the last quarter. Finally, Forthright Family Wealth Advisory LLC purchased a new position in Alphabet in the fourth quarter valued at approximately $393,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent research reports. Wolfe Research started coverage on shares of Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research report on Monday, September 16th. Royal Bank of Canada raised their target price on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets lowered their price objective on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.95.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 216,092 shares of company stock valued at $35,644,136. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $163.24 on Monday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.02 trillion, a PE ratio of 25.04, a P/E/G ratio of 1.21 and a beta of 1.04. The stock has a 50 day simple moving average of $161.37 and a 200-day simple moving average of $167.86.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the business posted $1.44 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.