Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Intrinsic Value Partners LLC

Intrinsic Value Partners LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,845 shares of the information services provider’s stock after selling 150 shares during the period. Alphabet comprises 4.6% of Intrinsic Value Partners LLC’s portfolio, making the stock its 5th largest holding. Intrinsic Value Partners LLC’s holdings in Alphabet were worth $4,618,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Capital Research Global Investors lifted its stake in Alphabet by 14.4% in 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. Bank of New York Mellon Corp raised its holdings in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Capital World Investors lifted its stake in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares during the period. American Century Companies Inc. boosted its holdings in shares of Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Alphabet by 9.1% in the second quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock valued at $4,237,426,000 after purchasing an additional 1,949,476 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This trade represents a 1.04 % 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 over the last quarter. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price target on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Trading Down 1.7 %

NASDAQ:GOOGL opened at $164.76 on Monday. The company has a market cap of $2.02 trillion, a PE ratio of 21.85, a P/E/G ratio of 1.19 and a beta of 1.03. The business’s 50 day moving average is $167.64 and its two-hundred day moving average is $170.36. 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.

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, 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 firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the business posted $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 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.