Alphabet Inc. (NASDAQ:GOOGL) Position Reduced by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 454,547 shares of the information services provider’s stock after selling 16,009 shares during the period. Alphabet makes up about 1.1% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 9th largest position. Oppenheimer & Co. Inc.’s holdings in Alphabet were worth $75,387,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GOOGL. New Hampshire Trust raised its stake in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Trinity Financial Advisors LLC raised its stake in shares of Alphabet by 4.5% during the third 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 during the period. abrdn plc raised its stake in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the period. StoneCrest Wealth Management Inc. raised 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 valued at $3,567,000 after purchasing an additional 140 shares during the period. Finally, EWG Elevate Inc. grew its position in shares of Alphabet by 9.7% during the third quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock worth $216,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Evercore ISI raised their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Roth Mkm raised their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein raised their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction dated 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 $6,307,206.90. The trade was a 35.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated 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 directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $169.23 on Thursday. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The firm’s 50-day simple moving average is $168.22 and its 200 day simple moving average is $170.34. 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 stock has a market cap of $2.07 trillion, a P/E ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the business earned $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is currently 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.