Alphabet Inc. $GOOGL is Atalanta Sosnoff Capital LLC’s 8th Largest Position

Atalanta Sosnoff Capital LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,010,180 shares of the information services provider’s stock after selling 281,608 shares during the period. Alphabet comprises 3.6% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 8th largest holding. Atalanta Sosnoff Capital LLC’s holdings in Alphabet were worth $178,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% in 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 during the period. Financial Gravity Companies Inc. purchased a new stake in Alphabet during the second quarter worth $31,000. CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 36.4% in the second 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. 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 last quarter. Finally, S&T Bank PA increased its position in shares of Alphabet by 40.2% in the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after buying an additional 99 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total transaction of $302,418.00. Following the completion of the transaction, the chief accounting officer owned 11,740 shares of the company’s stock, valued at $3,721,580. This represents a 7.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 102 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32. Following the transaction, the director owned 18,104 shares in the company, valued at approximately $5,750,916.64. The trade was a 0.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,128 shares of company stock worth $61,326,372 over the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Up 1.1%

Shares of NASDAQ GOOGL opened at $321.27 on Friday. The firm has a market cap of $3.88 trillion, a P/E ratio of 31.68, a price-to-earnings-growth ratio of 1.84 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 1 year low of $140.53 and a 1 year high of $328.83. The firm’s 50 day moving average price is $276.15 and its 200 day moving average price is $224.09.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for 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%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. 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 (DPR) is presently 8.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GOOGL shares. Barclays reiterated an “overweight” rating and issued a $315.00 price objective (up from $250.00) on shares of Alphabet in a research report on Thursday, October 30th. CIBC upped their price target on shares of Alphabet to $315.00 in a report on Monday, October 20th. BNP Paribas started coverage on shares of Alphabet in a research report on Monday, November 24th. They issued an “outperform” rating and a $355.00 price target on the stock. BMO Capital Markets set a $294.00 price objective on Alphabet and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Roth Capital upped their target price on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.65.

Alphabet Company 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.