Alphabet Inc. $GOOGL Position Trimmed by Archer Investment Corp

Archer Investment Corp trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,713 shares of the information services provider’s stock after selling 1,989 shares during the quarter. Archer Investment Corp’s holdings in Alphabet were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. boosted its stake in shares of Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after buying an additional 6,733,278 shares during the period. Geode Capital Management LLC raised its holdings in shares of Alphabet by 3.1% during 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 position in Alphabet by 11.4% during 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% in the first 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 position in Alphabet by 1.9% in 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 hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on 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. The trade was a 29.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 193,628 shares of company stock worth $50,942,622. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $315.81 on Wednesday. The firm’s 50-day moving average is $271.77 and its 200-day moving average is $221.67. The company has a market cap of $3.81 trillion, a price-to-earnings ratio of 31.15, a PEG ratio of 1.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $328.83.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOGL. Needham & Company LLC lifted their price target on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Robert W. Baird raised their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Canaccord Genuity Group boosted their target price 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. Jefferies Financial Group increased their price target on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $320.00 price objective (up previously from $245.00) on shares of Alphabet in a research note 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 company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $312.06.

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.