Blue Investment Partners LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Blue Investment Partners LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,153 shares of the information services provider’s stock after selling 2,309 shares during the period. Alphabet accounts for 2.7% of Blue Investment Partners LLC’s portfolio, making the stock its 13th largest position. Blue Investment Partners LLC’s holdings in Alphabet were worth $6,494,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GOOGL. The Manufacturers Life Insurance Company boosted its position in shares of Alphabet by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 15,963,072 shares of the information services provider’s stock worth $2,647,432,000 after buying an additional 775,363 shares during the period. Capital Square LLC grew its holdings in Alphabet by 17.5% during the 3rd quarter. Capital Square LLC now owns 3,834 shares of the information services provider’s stock valued at $636,000 after purchasing an additional 572 shares in the last quarter. Acorn Wealth Advisors LLC increased its stake in Alphabet by 9.9% during the 3rd quarter. Acorn Wealth Advisors LLC now owns 4,315 shares of the information services provider’s stock worth $716,000 after buying an additional 390 shares during the period. Wiser Advisor Group LLC lifted its holdings in Alphabet by 4.3% in the 3rd quarter. Wiser Advisor Group LLC now owns 12,017 shares of the information services provider’s stock worth $1,993,000 after buying an additional 495 shares in the last quarter. Finally, Associated Banc Corp grew its stake in shares of Alphabet by 1.7% during the third quarter. Associated Banc Corp now owns 760,124 shares of the information services provider’s stock valued at $126,067,000 after acquiring an additional 12,497 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.2 %

Shares of GOOGL opened at $174.71 on Monday. 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 1-year low of $129.68 and a 1-year high of $191.75. The stock has a market capitalization of $2.14 trillion, a P/E ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01. The business’s 50-day moving average price is $169.51 and its 200 day moving average price is $170.20.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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 net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given 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 dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

Several research firms recently commented on GOOGL. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. JMP Securities raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. KeyCorp increased their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Tigress Financial lifted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the 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 completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 8.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This represents a 1.05 % 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. 11.55% of the stock is owned by corporate insiders.

Alphabet Company 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.