Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Monte Financial Group LLC

Monte Financial Group LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,496 shares of the information services provider’s stock after selling 1,023 shares during the quarter. Monte Financial Group LLC’s holdings in Alphabet were worth $1,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Financial Security Advisor Inc. raised its holdings in shares of Alphabet by 2.1% in the first quarter. Financial Security Advisor Inc. now owns 31,416 shares of the information services provider’s stock worth $4,742,000 after acquiring an additional 635 shares during the last quarter. Quattro Financial Advisors LLC boosted its stake in shares of Alphabet by 48,200.7% during the first quarter. Quattro Financial Advisors LLC now owns 67,621 shares of the information services provider’s stock valued at $10,206,000 after acquiring an additional 67,481 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. increased its position in Alphabet by 0.8% during the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 754,624 shares of the information services provider’s stock worth $113,895,000 after purchasing an additional 6,290 shares in the last quarter. Shira Ridge Wealth Management raised its stake in Alphabet by 2.4% in the 1st quarter. Shira Ridge Wealth Management now owns 5,481 shares of the information services provider’s stock valued at $827,000 after purchasing an additional 128 shares during the last quarter. Finally, Nvest Financial LLC lifted its holdings in Alphabet by 1.4% in the 1st quarter. Nvest Financial LLC now owns 26,751 shares of the information services provider’s stock valued at $4,038,000 after purchasing an additional 370 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Truist Financial boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,244 shares of company stock valued at $37,776,954 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $171.29 on Monday. The firm has a 50-day moving average of $162.43 and a two-hundred day moving average of $169.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The stock has a market cap of $2.11 trillion, a P/E ratio of 22.72, a PEG ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a 1-year low of $126.93 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the business posted $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business 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 dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 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.