Chesapeake Wealth Management Sells 392 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Chesapeake Wealth Management cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,048 shares of the information services provider’s stock after selling 392 shares during the period. Alphabet accounts for approximately 1.6% of Chesapeake Wealth Management’s portfolio, making the stock its 15th biggest holding. Chesapeake Wealth Management’s holdings in Alphabet were worth $4,652,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOGL. Bank of New York Mellon Corp increased its holdings in shares of Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the period. American Century Companies Inc. grew 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 worth $4,274,184,000 after buying an additional 418,204 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Alphabet by 9.1% during the second quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock valued at $4,237,426,000 after acquiring an additional 1,949,476 shares during the period. International Assets Investment Management LLC raised its holdings in 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 valued at $31,086,250,000 after acquiring an additional 18,700,111 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Alphabet by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 17,520,067 shares of the information services provider’s stock worth $3,191,561,000 after acquiring an additional 1,102,269 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 1.5 %

Shares of Alphabet stock opened at $171.49 on Tuesday. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The business has a fifty day simple moving average of $168.47 and a 200 day simple moving average of $170.31. 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 $2.10 trillion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 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 during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the business posted $1.55 EPS. Research analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend 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 10.61%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,124 shares of company stock worth $31,374,030 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on GOOGL shares. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Bank of America lifted their target price 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. Tigress Financial increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target 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.