Capricorn Fund Managers Ltd Sells 1,934 Shares of Alphabet Inc. $GOOGL

Capricorn Fund Managers Ltd trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,156 shares of the information services provider’s stock after selling 1,934 shares during the period. Alphabet comprises approximately 3.9% of Capricorn Fund Managers Ltd’s holdings, making the stock its 6th biggest holding. Capricorn Fund Managers Ltd’s holdings in Alphabet were worth $11,464,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Breakwater Investment Management raised its holdings in shares of Alphabet by 1.0% in the third quarter. Breakwater Investment Management now owns 4,228 shares of the information services provider’s stock worth $1,028,000 after acquiring an additional 41 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its stake in Alphabet by 1.0% in the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 4,045 shares of the information services provider’s stock valued at $983,000 after purchasing an additional 41 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Alphabet by 2.9% in the 3rd quarter. Contravisory Investment Management Inc. now owns 1,572 shares of the information services provider’s stock valued at $382,000 after purchasing an additional 44 shares during the last quarter. LongView Wealth Management lifted its holdings in Alphabet by 1.2% in the 3rd quarter. LongView Wealth Management now owns 3,817 shares of the information services provider’s stock valued at $928,000 after purchasing an additional 46 shares in the last quarter. Finally, Towerpoint Wealth LLC boosted its stake in shares of Alphabet by 1.6% during the 3rd quarter. Towerpoint Wealth LLC now owns 3,037 shares of the information services provider’s stock worth $738,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,829 shares of the stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the sale, the insider owned 42,972 shares of the company’s stock, valued at $13,531,453.08. This represents a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $308.19, for a total transaction of $184,914.00. Following the completion of the transaction, the director directly owned 3,916 shares in the company, valued at approximately $1,206,872.04. This represents a 13.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 192,687 shares of company stock valued at $56,255,711 over the last quarter. Company insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $315.15 on Friday. The business’s fifty day moving average price is $301.53 and its 200 day moving average price is $243.98. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.80 trillion, a P/E ratio of 31.08, a PEG ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for 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, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Bank of America boosted their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. DA Davidson reissued a “neutral” rating and set a $300.00 price target on shares of Alphabet in a research note on Tuesday, November 25th. CIBC raised their price objective on Alphabet to $315.00 in a report on Monday, October 20th. Finally, Sanford C. Bernstein upped 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. Four equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $317.76.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.