Angeles Investment Advisors LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Angeles Investment Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,805 shares of the information services provider’s stock after selling 133 shares during the period. Angeles Investment Advisors LLC’s holdings in Alphabet were worth $1,792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Saturna Capital Corp raised its holdings in shares of Alphabet by 0.3% in the third quarter. Saturna Capital Corp now owns 1,430,995 shares of the information services provider’s stock worth $237,331,000 after buying an additional 4,003 shares during the last quarter. Simmons Bank raised its holdings in shares of Alphabet by 2.7% in the third quarter. Simmons Bank now owns 98,562 shares of the information services provider’s stock worth $16,347,000 after buying an additional 2,605 shares during the last quarter. Community Bank & Trust Waco Texas raised its holdings in shares of Alphabet by 0.8% in the third quarter. Community Bank & Trust Waco Texas now owns 49,452 shares of the information services provider’s stock worth $8,202,000 after buying an additional 393 shares during the last quarter. Haverford Trust Co raised its holdings in shares of Alphabet by 36.3% in the third quarter. Haverford Trust Co now owns 912,327 shares of the information services provider’s stock worth $151,309,000 after buying an additional 242,906 shares during the last quarter. Finally, Empower Advisory Group LLC raised its holdings in shares of Alphabet by 9.1% in the third quarter. Empower Advisory Group LLC now owns 97,437 shares of the information services provider’s stock worth $16,160,000 after buying an additional 8,165 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $169.23 on Thursday. The company’s 50-day moving average price is $168.22 and its 200-day moving average price is $170.34. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.07 trillion, a P/E ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm posted $1.55 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOGL. Roth Mkm raised their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. DA Davidson assumed coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Truist Financial raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.90.

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.