Geneva Capital Management LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)

Geneva Capital Management LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,001 shares of the information services provider’s stock after selling 1,128 shares during the period. Geneva Capital Management LLC’s holdings in Alphabet were worth $2,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc lifted its holdings in 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 purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $41,000. Quarry LP purchased a new position in shares of Alphabet in the second quarter worth $53,000. Finally, Summit Securities Group LLC bought a new position in shares of Alphabet during the second quarter worth $55,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % 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 valued at $34,673,866 over the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $169.12 on Wednesday. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $168.03 and a two-hundred day simple moving average of $170.35. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm earned $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.