Applied Finance Capital Management LLC Sells 6,123 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Applied Finance Capital Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 343,619 shares of the information services provider’s stock after selling 6,123 shares during the quarter. Alphabet comprises 1.4% of Applied Finance Capital Management LLC’s holdings, making the stock its 19th largest holding. Applied Finance Capital Management LLC’s holdings in Alphabet were worth $56,989,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet in the 2nd quarter worth $36,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter valued at $41,000. Quarry LP bought a new stake in Alphabet during the 2nd quarter valued at $53,000. Finally, Summit Securities Group LLC acquired a new position in Alphabet during the second quarter worth $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOGL stock opened at $164.76 on Friday. The firm’s fifty day moving average is $167.64 and its 200 day moving average is $170.36. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The firm has a market cap of $2.02 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company earned $1.55 EPS. Research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. KeyCorp boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Bank of America upped their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Seven 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

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.