Alphabet Inc. $GOOGL Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 88,632 shares of the information services provider’s stock after selling 15,844 shares during the period. Alphabet makes up 1.4% of Anchor Investment Management LLC’s investment portfolio, making the stock its 15th largest holding. Anchor Investment Management LLC’s holdings in Alphabet were worth $15,620,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Financial Gravity Companies Inc. acquired a new stake in Alphabet during the 2nd quarter worth approximately $31,000. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of Alphabet by 37.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after purchasing an additional 89 shares during the last quarter. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 77.6% during the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after purchasing an additional 152 shares during the period. Finally, S&T Bank PA grew its position in Alphabet by 40.2% in the 2nd 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 during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total value of $10,383,750.00. Following the sale, the chief executive officer directly owned 2,272,119 shares of the company’s stock, valued at approximately $725,942,020.50. This represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’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 transaction, the chief accounting officer owned 11,740 shares of the company’s stock, valued at $3,721,580. This trade represents a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,750 shares of company stock valued at $60,496,098 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GOOGL. Bank of America upped their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Needham & Company LLC increased their price target on shares of Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. CIBC boosted their target price on Alphabet to $315.00 in a research report on Monday, October 20th. Finally, Daiwa Capital Markets raised their price target on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $314.22.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $309.29 on Monday. The firm has a market capitalization of $3.73 trillion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.79 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 business’s 50 day simple moving average is $283.14 and its 200-day simple moving average is $229.97. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83.

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 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 return on equity of 35.00% and a net margin of 32.23%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. 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 payout ratio is 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.