Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Seascape Capital Management

Seascape Capital Management trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,283 shares of the information services provider’s stock after selling 1,032 shares during the quarter. Alphabet accounts for approximately 1.8% of Seascape Capital Management’s portfolio, making the stock its 15th largest holding. Seascape Capital Management’s holdings in Alphabet were worth $5,022,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Windward Capital Management Co. CA boosted its stake in shares of Alphabet by 1.7% in the third quarter. Windward Capital Management Co. CA now owns 302,745 shares of the information services provider’s stock valued at $50,210,000 after buying an additional 5,121 shares in the last quarter. Provident Trust Co. boosted its position in shares of Alphabet by 1.1% during the 3rd quarter. Provident Trust Co. now owns 3,476,456 shares of the information services provider’s stock worth $576,570,000 after purchasing an additional 36,190 shares in the last quarter. Holistic Planning LLC grew its stake in shares of Alphabet by 18.2% during the 3rd quarter. Holistic Planning LLC now owns 10,895 shares of the information services provider’s stock worth $1,807,000 after purchasing an additional 1,675 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Alphabet in the 3rd quarter valued at about $15,937,000. Finally, Source Financial Advisors LLC increased its holdings in shares of Alphabet by 1.9% in the 3rd quarter. Source Financial Advisors LLC now owns 6,227 shares of the information services provider’s stock valued at $1,033,000 after purchasing an additional 118 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Evercore ISI raised their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

Alphabet stock opened at $164.76 on Friday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year 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. The firm has a 50 day moving average price of $167.64 and a 200 day moving average price of $170.36. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.27 and a beta of 1.03.

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

Alphabet Announces Dividend

The company also recently declared 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 of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,673,866 in the last three months. 11.55% of the stock is currently owned by company insiders.

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.