Alphabet Inc. $GOOGL Shares Sold by Ellevest Inc.

Ellevest Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 19.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,166 shares of the information services provider’s stock after selling 5,906 shares during the period. Alphabet comprises about 0.7% of Ellevest Inc.’s portfolio, making the stock its 28th largest holding. Ellevest Inc.’s holdings in Alphabet were worth $4,259,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in Alphabet during the 1st quarter worth $50,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.8%

Shares of NASDAQ GOOGL opened at $276.41 on Monday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $292.01. The business’s 50 day moving average is $257.24 and its two-hundred day moving average is $209.28. The firm has a market cap of $3.34 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Dividend Announcement

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

Insider Activity

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the sale, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% 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 90 days. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Loop Capital increased their target price on shares of Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Cantor Fitzgerald raised their target price on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Daiwa Capital Markets upped their price target on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Evercore ISI lifted their price objective on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Wolfe Research reissued an “outperform” rating and set a $350.00 price objective (up previously from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Company 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.