Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Round Hill Asset Management

Round Hill Asset Management reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,691 shares of the information services provider’s stock after selling 230 shares during the period. Round Hill Asset Management’s holdings in Alphabet were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Bank of New York Mellon Corp grew its position in 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 worth $9,011,412,000 after buying an additional 238,403 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Alphabet by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after acquiring an additional 418,204 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of 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 worth $4,237,426,000 after purchasing an additional 1,949,476 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Alphabet by 43,005.6% during the third 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 purchasing an additional 18,700,111 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Tigress Financial raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Wedbush reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Thursday, October 24th. Finally, Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,624 shares of company stock worth $27,803,730. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.2 %

GOOGL stock opened at $174.71 on Friday. The stock has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The company has a 50-day moving average of $169.51 and a two-hundred day moving average of $170.24. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business 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 $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 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.