Alphabet Inc. $GOOGL Shares Sold by Choreo LLC

Choreo LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 236,123 shares of the information services provider’s stock after selling 1,776 shares during the quarter. Choreo LLC’s holdings in Alphabet were worth $41,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Gimbal Financial lifted its stake in shares of Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after buying an additional 53 shares in the last quarter. Missouri Trust & Investment Co lifted its stake in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares in the last quarter. Silver Coast Investments LLC boosted its holdings in shares of Alphabet by 1.3% during the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its position in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares in the last quarter. Finally, Bfsg LLC grew its position in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wedbush reissued an “outperform” rating and set a $320.00 price objective (up previously from $245.00) on shares of Alphabet in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Loop Capital raised shares of Alphabet from a “hold” rating to a “buy” rating and upped their price objective for the company from $260.00 to $320.00 in a report on Tuesday, November 18th. Melius Research lifted their target price on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Finally, BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $312.65.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 226,128 shares of company stock valued at $61,326,372. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $321.27 on Friday. The firm’s 50 day moving average price is $276.15 and its 200-day moving average price is $224.51. 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 one year low of $140.53 and a one year high of $328.83. The firm has a market cap of $3.88 trillion, a P/E ratio of 31.68, a P/E/G ratio of 1.86 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last posted 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. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. 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%.

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.