Patron Partners LLC Sells 291 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Patron Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,259 shares of the information services provider’s stock after selling 291 shares during the quarter. Alphabet comprises about 0.9% of Patron Partners LLC’s investment portfolio, making the stock its 19th biggest position. Patron Partners LLC’s holdings in Alphabet were worth $1,701,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in Alphabet in the second quarter worth about $36,000. Denver PWM LLC bought a new stake in Alphabet during the second quarter worth approximately $41,000. Quarry LP purchased a new stake in Alphabet during the second quarter valued at approximately $53,000. Finally, Summit Securities Group LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $55,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, 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 completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on 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 owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,673,866 in the last three months. 11.55% of the stock is owned by insiders.

Alphabet Trading Up 1.8 %

NASDAQ:GOOGL opened at $167.65 on Tuesday. The stock has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.17 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 company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $167.83 and a 200 day moving average of $170.34.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the business posted $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued 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 dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOGL. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Roth Mkm increased their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven equities research 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.90.

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.