Copperleaf Capital LLC Reduces Holdings in Alphabet Inc. $GOOGL

Copperleaf Capital LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,074 shares of the information services provider’s stock after selling 302 shares during the quarter. Alphabet comprises approximately 1.3% of Copperleaf Capital LLC’s portfolio, making the stock its 19th largest position. Copperleaf Capital LLC’s holdings in Alphabet were worth $2,656,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in Alphabet in the 1st quarter valued at about $4,317,606,000. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alphabet by 11.4% in the 1st 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 worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after purchasing an additional 4,224,497 shares during the period. Finally, Amundi increased its holdings in Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Alphabet stock opened at $320.02 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. The business has a 50 day simple moving average of $269.25 and a 200-day simple moving average of $219.56. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The stock has a market capitalization of $3.86 trillion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced 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. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Cantor Fitzgerald upped their price target on Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Roth Capital upped their price objective on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Needham & Company LLC lifted their price objective on shares of Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. BNP Paribas Exane assumed coverage on Alphabet in a research note on Monday, November 24th. They set an “outperform” rating and a $355.00 target price for the company. Finally, Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and increased their price target for the company from $260.00 to $320.00 in a research note on Tuesday, November 18th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.84.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the transaction, the chief accounting officer directly owned 11,739 shares in the company, valued at $3,383,884.14. This represents a 19.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 225,072 shares of company stock worth $58,074,027 in the last three months. 11.64% of the stock is currently owned by company insiders.

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.