Sicart Associates LLC Sells 705 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sicart Associates LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,118 shares of the information services provider’s stock after selling 705 shares during the quarter. Alphabet comprises 3.4% of Sicart Associates LLC’s portfolio, making the stock its 5th largest position. Sicart Associates LLC’s holdings in Alphabet were worth $9,805,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in shares of Alphabet in the second quarter worth about $36,000. Denver PWM LLC purchased a new position in Alphabet in the second quarter valued at about $41,000. CarsonAllaria Wealth Management Ltd. grew its stake in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares in the last quarter. Finally, Quarry LP purchased a new stake in Alphabet during the 2nd quarter worth approximately $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Argus boosted their price objective on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. DA Davidson assumed coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Wolfe Research initiated coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,752 shares of company stock valued at $40,156,829. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $178.35 on Monday. The company has a 50-day moving average of $163.54 and a two-hundred day moving average of $169.67. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.25 and a beta of 1.03. 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 Inc. has a one year low of $127.90 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. On average, equities research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued 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 0.45%. Alphabet’s dividend 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.