Hardman Johnston Global Advisors LLC Sells 95,310 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Hardman Johnston Global Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 21.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 348,617 shares of the information services provider’s stock after selling 95,310 shares during the quarter. Alphabet accounts for approximately 2.3% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Hardman Johnston Global Advisors LLC’s holdings in Alphabet were worth $57,818,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC boosted its position in shares of Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its stake 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 worth $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% in the 2nd 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 Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the last quarter. Finally, MKT Advisors LLC increased its holdings in shares of Alphabet by 0.8% in the 3rd 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 own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GOOGL. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Roth Mkm boosted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Finally, Royal Bank of Canada increased their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a 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 five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Up 1.6 %

Shares of GOOGL opened at $175.30 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a market cap of $2.15 trillion, a PE ratio of 23.25, a P/E/G ratio of 1.23 and a beta of 1.03. The business has a fifty day moving average of $166.15 and a 200 day moving average of $170.28.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the business earned $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 in the company, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock worth $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.