Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,454 shares of the information services provider’s stock after selling 110 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Alphabet were worth $3,061,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after buying an additional 18,700,111 shares during the period. SG Americas Securities LLC grew its position in shares of Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after buying an additional 9,135,056 shares in the last quarter. Capital Research Global Investors grew its position in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its stake in Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.7 %

NASDAQ GOOGL opened at $181.62 on Wednesday. The stock has a fifty day moving average of $163.88 and a 200-day moving average of $169.91. The stock has a market capitalization of $2.22 trillion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

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. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 7.99 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 paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s payout ratio is 10.61%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents 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 have sold 241,752 shares of company stock worth $40,156,829. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GOOGL shares. Guggenheim boosted their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Citigroup boosted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Seven 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.