Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Carr Financial Group Corp

Carr Financial Group Corp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,617 shares of the information services provider’s stock after selling 387 shares during the quarter. Carr Financial Group Corp’s holdings in Alphabet were worth $1,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New Hampshire Trust lifted its stake in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Trinity Financial Advisors LLC raised its holdings in shares of 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 purchasing an additional 190 shares in the last quarter. abrdn plc lifted its position 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 last quarter. StoneCrest Wealth Management Inc. grew its stake in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares in the last quarter. Finally, EWG Elevate Inc. increased its holdings in Alphabet by 9.7% in the third quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock valued at $216,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $164.76 on Friday. The firm has a market capitalization of $2.02 trillion, a PE ratio of 21.85, a P/E/G ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The firm’s 50-day simple moving average is $167.64 and its 200 day simple moving average is $170.35. 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 (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business 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 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 dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Sanford C. Bernstein upped their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. KeyCorp upped their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Truist Financial increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report 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 stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock valued at $34,673,866. Corporate insiders own 11.55% of the company’s stock.

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.