James Investment Research Inc. Sells 8,389 Shares of Alphabet Inc. (NASDAQ:GOOGL)

James Investment Research Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,450 shares of the information services provider’s stock after selling 8,389 shares during the period. Alphabet makes up 2.9% of James Investment Research Inc.’s holdings, making the stock its 4th biggest holding. James Investment Research Inc.’s holdings in Alphabet were worth $25,118,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. MorganRosel Wealth Management LLC lifted its stake in shares of Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its position in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. First PREMIER Bank boosted its stake in shares of Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after acquiring an additional 61 shares during the period. Finally, MKT Advisors LLC grew its position in shares of Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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 of this dividend 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%.

Analysts Set New Price Targets

GOOGL has been the topic of several research analyst reports. Tigress Financial boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Sanford C. Bernstein boosted their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. JMP Securities raised their price target on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. 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 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.