CenterBook Partners LP Sells 7,362 Shares of Alphabet Inc. $GOOGL

CenterBook Partners LP trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,869 shares of the information services provider’s stock after selling 7,362 shares during the period. Alphabet comprises approximately 1.8% of CenterBook Partners LP’s holdings, making the stock its 5th biggest holding. CenterBook Partners LP’s holdings in Alphabet were worth $32,932,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Financial Gravity Companies Inc. purchased a new stake in shares of Alphabet in the second quarter valued at $31,000. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Alphabet in the 1st quarter valued at about $50,000. Finally, S&T Bank PA boosted its stake in shares of Alphabet by 40.2% during the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 1.2%

Shares of GOOGL opened at $319.63 on Thursday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The firm has a market capitalization of $3.86 trillion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $273.22 and its 200 day simple moving average is $222.36.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the transaction, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. 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 business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents 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 quarter, insiders have sold 193,628 shares of company stock worth $50,942,622. Company insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOGL. Tigress Financial boosted their price objective on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research report on Friday, September 5th. Evercore ISI lifted their target price on shares of Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. China Renaissance boosted their price target on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a report on Friday, October 31st. Citigroup restated a “buy” rating and set a $343.00 price objective (up previously from $280.00) on shares of Alphabet in a report on Thursday, October 30th. Finally, Citic Securities lifted their price objective on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Four equities research 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. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.06.

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.