Alphabet Inc. $GOOGL Shares Sold by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,400 shares of the information services provider’s stock after selling 575 shares during the quarter. Alphabet comprises about 3.7% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 15th largest holding. Heathbridge Capital Management Ltd.’s holdings in Alphabet were worth $9,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Nuveen LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $4,317,606,000. Vanguard Group Inc. lifted its position in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Alphabet by 11.4% in the first 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 purchasing an additional 4,473,901 shares during the period. Amundi lifted its position in Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. lifted its position in Alphabet by 178.3% in the first 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. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the transaction, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. This represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 103 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 210,872 shares of company stock valued at $46,980,865 over the last quarter. 11.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GOOGL shares. DA Davidson boosted their price objective on Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 2nd. Citizens Jmp lifted their target price on Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. UBS Group raised their price objective on shares of Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Jefferies Financial Group raised their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, Mizuho set a $295.00 target price on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday, September 29th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.57.

Alphabet Price Performance

GOOGL stock opened at $251.46 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.96. The firm has a 50-day moving average of $230.51 and a two-hundred day moving average of $190.95. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.04 trillion, a PE ratio of 26.78, a P/E/G ratio of 1.69 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. 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 (DPR) is 8.95%.

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.