Culbertson A N & Co. Inc. Lowers Position in Alphabet Inc. $GOOGL

Culbertson A N & Co. Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,810 shares of the information services provider’s stock after selling 510 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Alphabet were worth $6,311,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GOOGL. NBZ Investment Advisors LLC boosted its stake in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in Alphabet in the 2nd quarter worth about $31,000. CarsonAllaria Wealth Management Ltd. boosted its position in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Alphabet during the first quarter worth approximately $50,000. Finally, Christopher J. Hasenberg Inc grew its holdings in Alphabet by 77.6% in the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 152 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s 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 transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 225,072 shares of company stock valued at $58,074,027. 11.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Needham & Company LLC upped their target price on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. BMO Capital Markets set a $294.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research note on Thursday, October 9th. Moffett Nathanson boosted their price target on shares of Alphabet from $305.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Oppenheimer increased their price objective on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, Stifel Nicolaus set a $333.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $307.84.

Alphabet Stock Up 0.0%

GOOGL stock opened at $320.02 on Friday. 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 firm has a 50-day moving average of $269.25 and a two-hundred day moving average of $219.18. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.86 and a beta of 1.05.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

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.