Alphabet Inc. $GOOGL Shares Sold by Arjuna Capital

Arjuna Capital trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,760 shares of the information services provider’s stock after selling 2,671 shares during the quarter. Alphabet accounts for about 4.2% of Arjuna Capital’s portfolio, making the stock its 5th largest position. Arjuna Capital’s holdings in Alphabet were worth $15,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC lifted its position in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Smart Money Group LLC raised its holdings in Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after purchasing an additional 532 shares during the period. United Bank increased its holdings in Alphabet by 2.1% in the 1st quarter. United Bank now owns 45,084 shares of the information services provider’s stock worth $6,972,000 after acquiring an additional 910 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its stake in Alphabet by 16.4% during the 1st quarter. Integrated Investment Consultants LLC now owns 27,114 shares of the information services provider’s stock worth $4,193,000 after buying an additional 3,822 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $320.21 on Thursday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The firm has a market capitalization of $3.86 trillion, a P/E ratio of 31.58, a P/E/G ratio of 1.84 and a beta of 1.07. 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’s fifty day moving average price is $280.53 and its 200 day moving average price is $227.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOOGL shares. Wolfe Research restated an “outperform” rating and set a $350.00 price target (up from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Oppenheimer lifted their target price on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Citic Securities lifted their price target on shares of Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Robert W. Baird raised their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Evercore ISI boosted their price objective on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.65.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’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 sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 226,128 shares of company stock valued at $61,326,372 in the last ninety days. 11.64% of the stock is currently owned by company insiders.

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.