Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Chase Investment Counsel Corp

Chase Investment Counsel Corp trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 29.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,333 shares of the information services provider’s stock after selling 16,231 shares during the quarter. Alphabet makes up about 2.1% of Chase Investment Counsel Corp’s holdings, making the stock its 9th biggest position. Chase Investment Counsel Corp’s holdings in Alphabet were worth $6,357,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC lifted its position in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC increased its position in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. First PREMIER Bank lifted its holdings in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares in the last quarter. Finally, MKT Advisors LLC boosted its position in Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GOOGL. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Roth Mkm raised their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Trading Up 0.9 %

Shares of NASDAQ GOOGL opened at $169.12 on Wednesday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03. 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’s 50 day simple moving average is $168.03 and its 200 day simple moving average is $170.35.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company 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. Equities research analysts expect that Alphabet Inc. will post 8.01 EPS 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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the 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 completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s 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 of the company’s stock, 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. Over the last 90 days, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by company insiders.

Alphabet 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.