Sycomore Asset Management Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Sycomore Asset Management cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 61.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,004 shares of the information services provider’s stock after selling 28,359 shares during the period. Sycomore Asset Management’s holdings in Alphabet were worth $2,930,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 0.5% in the second 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 purchasing an additional 238,403 shares in the last quarter. American Century Companies Inc. lifted its position in 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 valued at $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Alphabet by 9.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock worth $4,237,426,000 after buying an additional 1,949,476 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Alphabet by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 17,520,067 shares of the information services provider’s stock valued at $3,191,561,000 after buying an additional 1,102,269 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the 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 directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by company insiders.

Alphabet Stock Up 0.1 %

NASDAQ:GOOGL opened at $169.23 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a market cap of $2.07 trillion, a PE ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03. The company’s 50 day moving average is $168.36 and its two-hundred day moving average is $170.33.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $72.85 billion. During the same period in the previous year, the company earned $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The company 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein boosted their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Bank of America boosted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Pivotal Research raised their target price on shares of 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 issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.