Campbell & CO Investment Adviser LLC Reduces Holdings in Alphabet Inc. $GOOGL

Campbell & CO Investment Adviser LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 58.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,311 shares of the information services provider’s stock after selling 10,443 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Alphabet were worth $1,288,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Gimbal Financial lifted its position in Alphabet by 1.9% during the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after purchasing an additional 53 shares in the last quarter. Missouri Trust & Investment Co raised its stake in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares during the period. Silver Coast Investments LLC lifted its position in shares of Alphabet by 1.3% during the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after buying an additional 55 shares in the last quarter. AM Investment Strategies LLC grew its stake in shares of Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 57 shares during the period. Finally, Bfsg LLC grew its stake in shares of Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.1%

NASDAQ GOOGL opened at $289.45 on Friday. The stock has a 50 day moving average price of $261.21 and a 200-day moving average price of $212.12. Alphabet Inc. has a one year low of $140.53 and a one year high of $306.42. 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 has a market capitalization of $3.49 trillion, a P/E ratio of 28.55, a P/E/G 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, 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 for the quarter, compared to the consensus estimate of $99.90 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 192,674 shares of company stock valued at $48,454,423. Insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GOOGL. Wolfe Research reaffirmed an “outperform” rating and set a $350.00 price target (up previously from $290.00) on shares of Alphabet in a report on Thursday, October 30th. Cantor Fitzgerald raised their price objective on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Evercore ISI lifted their target price on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Westpark Capital increased their price target on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, New Street Research raised their price target on Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.33.

Alphabet 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.