Mathes Company Inc. Has $8.13 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mathes Company Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,019 shares of the information services provider’s stock after selling 4,318 shares during the period. Alphabet accounts for 2.9% of Mathes Company Inc.’s portfolio, making the stock its 6th largest holding. Mathes Company Inc.’s holdings in Alphabet were worth $8,130,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its stake in Alphabet by 70.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after acquiring an additional 41,880 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares during the last quarter. Broderick Brian C lifted its position in shares of Alphabet by 10.2% in the first quarter. Broderick Brian C now owns 145,663 shares of the information services provider’s stock worth $21,985,000 after buying an additional 13,465 shares in the last quarter. Cohen Capital Management Inc. boosted its stake in Alphabet by 2.2% during the first quarter. Cohen Capital Management Inc. now owns 69,502 shares of the information services provider’s stock valued at $10,490,000 after buying an additional 1,502 shares during the last quarter. Finally, Advisors Capital Management LLC grew its holdings in Alphabet by 4.6% during the 1st quarter. Advisors Capital Management LLC now owns 352,348 shares of the information services provider’s stock valued at $53,180,000 after buying an additional 15,482 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Guggenheim lifted 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. Piper Sandler restated an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Truist Financial lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein upped their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Down 1.8 %

Shares of NASDAQ:GOOGL opened at $175.58 on Friday. The company has a market capitalization of $2.15 trillion, a PE ratio of 23.29, a P/E/G ratio of 1.29 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The business’s fifty day simple moving average is $164.82 and its 200-day simple moving average is $170.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the company posted $1.55 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.