Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by Bluesphere Advisors LLC

Bluesphere Advisors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,487 shares of the information services provider’s stock after selling 542 shares during the quarter. Alphabet accounts for approximately 2.8% of Bluesphere Advisors LLC’s holdings, making the stock its 8th biggest position. Bluesphere Advisors LLC’s holdings in Alphabet were worth $5,720,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter valued at $36,000. Tributary Capital Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at $30,000. Denver PWM LLC purchased a new position in shares of Alphabet in the 2nd quarter worth $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet in the second quarter worth $53,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JMP Securities increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday. UBS Group lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Roth Mkm lifted their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,744 shares of company stock valued at $35,878,764. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

GOOGL stock opened at $171.11 on Friday. The firm has a 50 day simple moving average of $162.32 and a 200 day simple moving average of $168.79. Alphabet Inc. has a 52 week low of $122.68 and a 52 week high of $191.75. The stock has a market cap of $2.11 trillion, a P/E ratio of 26.24, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the business posted $1.55 EPS. Research analysts anticipate that Alphabet Inc. will post 7.65 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.