Nvwm LLC Sells 4,363 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Nvwm LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,330 shares of the information services provider’s stock after selling 4,363 shares during the period. Alphabet comprises about 2.5% of Nvwm LLC’s holdings, making the stock its 6th biggest position. Nvwm LLC’s holdings in Alphabet were worth $10,006,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GOOGL. New Hampshire Trust grew its holdings in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new stake in Alphabet during the first quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP grew its stake in Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares during the period. Trinity Financial Advisors LLC raised its holdings in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. KeyCorp boosted their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $172.49 on Friday. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The stock’s 50 day moving average is $165.61 and its 200-day moving average is $170.13. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given 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 payout ratio is 10.61%.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,795 shares of company stock worth $34,471,141. Insiders own 11.55% of the company’s stock.

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.