Aljian Capital Management LLC Sells 7,192 Shares of Alphabet Inc. $GOOGL

Aljian Capital Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 205,254 shares of the information services provider’s stock after selling 7,192 shares during the quarter. Alphabet accounts for approximately 7.9% of Aljian Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Aljian Capital Management LLC’s holdings in Alphabet were worth $36,166,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Simon Quick Advisors LLC grew its holdings in Alphabet by 20.3% during the second quarter. Simon Quick Advisors LLC now owns 79,293 shares of the information services provider’s stock worth $13,974,000 after buying an additional 13,360 shares in the last quarter. Arbor Capital Management Inc. ADV boosted its holdings in Alphabet by 6.0% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 12,144 shares of the information services provider’s stock worth $2,287,000 after acquiring an additional 692 shares during the last quarter. Coign Capital Advisors LLC boosted its holdings in Alphabet by 9.7% during the 2nd quarter. Coign Capital Advisors LLC now owns 1,747 shares of the information services provider’s stock worth $308,000 after acquiring an additional 155 shares during the last quarter. KLCM Advisors Inc. grew its stake in shares of Alphabet by 2.3% in the 2nd quarter. KLCM Advisors Inc. now owns 14,775 shares of the information services provider’s stock worth $2,604,000 after acquiring an additional 326 shares in the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in shares of Alphabet in the second quarter valued at about $476,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 221,796 shares of company stock worth $53,983,001 over the last quarter. 11.64% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $291.31 on Wednesday. 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 stock has a fifty day simple moving average of $254.37 and a two-hundred day simple moving average of $206.73. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.92. The firm has a market cap of $3.52 trillion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Mizuho set a $325.00 target price on shares of Alphabet in a research report on Thursday, October 30th. KeyCorp reaffirmed an “overweight” rating and issued a $300.00 target price (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. DA Davidson increased their price target on Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Stifel Nicolaus set a $333.00 price target on Alphabet in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus 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.