Academy Capital Management Sells 1,249 Shares of Alphabet Inc. $GOOGL

Academy Capital Management trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,179 shares of the information services provider’s stock after selling 1,249 shares during the quarter. Alphabet comprises approximately 4.4% of Academy Capital Management’s holdings, making the stock its 11th biggest position. Academy Capital Management’s holdings in Alphabet were worth $30,872,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. increased its stake in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares during the period. Bridgeway Capital Management LLC boosted its position in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the period. Alaethes Wealth LLC grew its stake in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares in the last quarter. Moment Partners LLC grew its stake in Alphabet by 9.3% in the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after acquiring an additional 504 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. increased its position in shares of Alphabet by 8.4% during the first quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock worth $4,832,000 after acquiring an additional 2,434 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 2.1%

NASDAQ GOOGL opened at $278.83 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The company has a 50 day moving average price of $251.23 and a 200 day moving average price of $204.19. 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 firm has a market cap of $3.37 trillion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,396 shares of company stock valued at $54,105,275 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research reports. Needham & Company LLC boosted their price target on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Bank of America upped their target price on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Truist Financial increased their price target on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Guggenheim lifted their price objective on Alphabet from $280.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $306.00 price objective (up from $255.00) on shares of Alphabet in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $304.10.

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.