F m Investments LLC Reduces Holdings in Alphabet Inc. $GOOGL

F m Investments LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 404,509 shares of the information services provider’s stock after selling 12,254 shares during the period. Alphabet accounts for approximately 2.6% of F m Investments LLC’s investment portfolio, making the stock its 7th largest holding. F m Investments LLC’s holdings in Alphabet were worth $71,287,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock worth $91,033,300,000 after purchasing an additional 6,733,278 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after purchasing an additional 4,224,497 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet in the 2nd quarter worth $21,944,208,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Alphabet by 11.4% during the 1st 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 buying an additional 4,473,901 shares during the last quarter. Finally, Invesco Ltd. increased its position in Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after buying an additional 593,345 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets set a $294.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Thursday, October 9th. UBS Group reissued a “neutral” rating and set a $306.00 target price (up previously from $255.00) on shares of Alphabet in a research report on Thursday, October 30th. Morgan Stanley upped their price target on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $330.00 price objective (up from $285.00) on shares of Alphabet in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.65.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 226,128 shares of company stock valued at $61,326,372. 11.55% of the stock is owned by company insiders.

Alphabet Trading Down 2.4%

NASDAQ GOOGL opened at $313.72 on Tuesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $3.79 trillion, a PE ratio of 30.94, a P/E/G ratio of 1.86 and a beta of 1.07. The company has a fifty day moving average of $277.54 and a 200 day moving average of $225.91.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business 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%. 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. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is presently 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.