Abel Hall LLC Sells 981 Shares of Alphabet Inc. $GOOGL

Abel Hall LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,338 shares of the information services provider’s stock after selling 981 shares during the quarter. Alphabet makes up approximately 0.7% of Abel Hall LLC’s holdings, making the stock its 24th biggest position. Abel Hall LLC’s holdings in Alphabet were worth $1,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nuveen LLC bought a new stake in Alphabet during the first quarter valued at approximately $4,317,606,000. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Amundi boosted its stake in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. raised its holdings in Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after purchasing an additional 2,565,400 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 210,872 shares of company stock valued at $46,980,865 in the last ninety days. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.2%

Alphabet stock opened at $251.46 on Friday. The stock has a market cap of $3.04 trillion, a P/E ratio of 26.78, a PEG ratio of 1.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.96. The firm’s 50 day moving average price is $230.51 and its 200-day moving average price is $190.95.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating 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 net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $288.00 price objective on shares of Alphabet in a research note on Tuesday. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Mizuho set a $295.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research report on Monday, September 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $250.57.

Alphabet 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.