Condor Capital Management Reduces Holdings in Alphabet Inc. $GOOGL

Condor Capital Management reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,448 shares of the information services provider’s stock after selling 208 shares during the period. Alphabet comprises 1.5% of Condor Capital Management’s portfolio, making the stock its 17th largest position. Condor Capital Management’s holdings in Alphabet were worth $16,997,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Alphabet by 3.1% in the second quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after acquiring an additional 4,224,497 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Invesco Ltd. grew its stake in Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the transaction, the chief executive officer owned 2,304,619 shares in the company, valued at approximately $683,642,180.16. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 225,072 shares of company stock worth $58,074,027 over the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.1%

Shares of Alphabet stock opened at $319.95 on Thursday. The stock has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.55, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. 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 business’s 50 day simple moving average is $266.58 and its 200-day simple moving average is $216.93.

Alphabet (NASDAQ:GOOGL) last posted 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. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date 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 8.28%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. KeyCorp reiterated an “overweight” rating and set a $300.00 target price (up from $265.00) on shares of Alphabet in a research note on Monday, October 27th. CICC Research upped their price target on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Royal Bank Of Canada reissued a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Truist Financial boosted their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group increased their price target on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $307.84.

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.