Intelligence Driven Advisers LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Intelligence Driven Advisers LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,044 shares of the information services provider’s stock after selling 66 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in Alphabet were worth $339,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOGL. China Universal Asset Management Co. Ltd. boosted its stake in shares of Alphabet by 70.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after acquiring an additional 41,880 shares during the last quarter. Quent Capital LLC raised its holdings in Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares during the period. Tyro Capital Management LLC bought a new position in Alphabet in the 1st quarter worth $8,026,000. Tremblant Capital Group lifted its position in Alphabet by 76.1% during the first quarter. Tremblant Capital Group now owns 9,415 shares of the information services provider’s stock valued at $1,421,000 after purchasing an additional 4,068 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in Alphabet by 9.3% during the first quarter. Kestra Advisory Services LLC now owns 533,158 shares of the information services provider’s stock valued at $80,470,000 after purchasing an additional 45,361 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.1 %

NASDAQ:GOOGL opened at $169.23 on Friday. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth 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. 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 stock has a fifty day simple moving average of $168.36 and a 200-day simple moving average of $170.33.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GOOGL shares. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Evercore ISI increased their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were 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. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by company 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.