Alphabet Inc. $GOOGL Stock Position Trimmed by Bandera Partners LLC

Bandera Partners LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,322 shares of the information services provider’s stock after selling 26,978 shares during the quarter. Alphabet accounts for about 7.1% of Bandera Partners LLC’s holdings, making the stock its 6th biggest holding. Bandera Partners LLC’s holdings in Alphabet were worth $15,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new stake in Alphabet during the first quarter worth about $4,317,606,000. Laurel Wealth Advisors LLC boosted its stake in Alphabet by 17,667.7% in the second quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock worth $2,686,640,000 after buying an additional 15,159,273 shares in the last quarter. Vanguard Group Inc. grew its position in Alphabet by 2.9% during the first 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 last quarter. Franklin Resources Inc. grew its position in Alphabet by 51.7% during the second quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock valued at $5,607,232,000 after acquiring an additional 10,843,853 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 worth $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total value 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 approximately $3,721,580. This represents a 7.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% 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 have sold 226,128 shares of company stock valued at $61,326,372. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $321.27 on Friday. The business has a 50 day moving average of $276.15 and a 200 day moving average of $224.51. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The company has a market cap of $3.88 trillion, a PE ratio of 31.68, a P/E/G ratio of 1.86 and a beta of 1.07. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $99.90 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 is presently 8.28%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup reaffirmed a “buy” rating and issued a $343.00 price objective (up previously from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Bank of America upped their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Truist Financial set a $350.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Friday. Sanford C. Bernstein boosted their target price on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets set a $294.00 target price on Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. Four 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. According to 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.