First Personal Financial Services Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

First Personal Financial Services reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,909 shares of the information services provider’s stock after selling 554 shares during the quarter. Alphabet makes up about 3.1% of First Personal Financial Services’ investment portfolio, making the stock its 3rd largest holding. First Personal Financial Services’ holdings in Alphabet were worth $14,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC boosted its stake in Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Capital Research Global Investors grew its holdings in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after buying an additional 4,662,809 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its holdings in shares of Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after buying an additional 4,410,811 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. KeyCorp lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. DA Davidson initiated coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, JMP Securities lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Seven research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

Alphabet stock opened at $164.76 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. The firm has a 50-day moving average of $167.64 and a two-hundred day moving average of $170.35. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current 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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

About Alphabet

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.