Alphabet Inc. $GOOGL Shares Sold by Accuvest Global Advisors

Accuvest Global Advisors cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 71.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,729 shares of the information services provider’s stock after selling 16,787 shares during the quarter. Accuvest Global Advisors’ holdings in Alphabet were worth $1,186,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mystic Asset Management Inc. increased its stake in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after buying an additional 1,791 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Alaethes Wealth LLC boosted its holdings in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares in the last quarter. Moment Partners LLC increased its stake in shares of Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after acquiring an additional 504 shares during the period. Finally, Welch Group LLC raised its holdings in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated 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 transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 221,796 shares of company stock worth $53,983,001 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $278.57 on Friday. The company has a market capitalization of $3.36 trillion, a PE ratio of 27.47, a PEG ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company’s 50 day moving average price is $256.42 and its 200 day moving average price is $207.79. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $292.01.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup reiterated a “buy” rating and set a $343.00 price target (up from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. Moffett Nathanson upped their price objective on Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, October 30th. KeyCorp reiterated an “overweight” rating and issued a $300.00 price target (up from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Citizens Jmp raised their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Finally, Bank of America lifted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.