Genus Capital Management Inc. Has $2.42 Million Holdings in Alphabet Inc. $GOOGL

Genus Capital Management Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,740 shares of the information services provider’s stock after selling 1,900 shares during the quarter. Genus Capital Management Inc.’s holdings in Alphabet were worth $2,421,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Guardian Wealth Management Inc. increased its holdings in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. raised its stake in shares of 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 during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in Alphabet during the 1st quarter worth approximately $50,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GOOGL shares. Loop Capital upped their price objective on Alphabet from $190.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, October 24th. Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Morgan Stanley boosted their price objective on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. The Goldman Sachs Group raised their target price on shares of Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $320.00 price target (up previously from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Trading Down 0.8%

NASDAQ GOOGL opened at $276.41 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $292.01. The business has a 50 day simple moving average of $257.24 and a 200 day simple moving average of $209.28. The stock has a market capitalization of $3.34 trillion, a P/E ratio of 27.26, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 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 during the quarter, compared to the consensus estimate of $99.90 billion. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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 paid 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 payout ratio is currently 8.28%.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet 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 completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 221,796 shares of company stock valued at $53,983,001. 11.64% of the stock is owned by corporate insiders.

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.