Clean Yield Group Lowers Stock Holdings in Alphabet Inc. $GOOGL

Clean Yield Group lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,690 shares of the information services provider’s stock after selling 343 shares during the quarter. Clean Yield Group’s holdings in Alphabet were worth $1,532,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Missouri Trust & Investment Co boosted its position in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its position in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC lifted its position in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares in the last quarter. Enzi Wealth lifted its position in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares in the last quarter. Finally, Park Capital Management LLC WI lifted its position in shares of Alphabet by 1.1% in the second quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider’s stock valued at $1,058,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 276,738 shares of company stock valued at $59,135,475. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $245.35 on Friday. The business has a fifty day moving average of $221.25 and a two-hundred day moving average of $185.80. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group raised their target price on Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a research report on Wednesday, September 3rd. Robert W. Baird raised their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Rosenblatt Securities raised their target price on Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Finally, Canaccord Genuity Group raised their target price on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.76.

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.