Ingalls & Snyder LLC Sells 1,784 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Ingalls & Snyder LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,023 shares of the information services provider’s stock after selling 1,784 shares during the quarter. Alphabet comprises approximately 2.5% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 8th largest holding. Ingalls & Snyder LLC’s holdings in Alphabet were worth $58,656,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC purchased a new stake in Alphabet in the first quarter valued at approximately $30,000. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter valued at approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,367 shares of company stock worth $30,016,931. 11.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on GOOGL shares. Cantor Fitzgerald started coverage on Alphabet in a research report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price objective on the stock. Roth Mkm restated a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a research report on Thursday, August 29th. BMO Capital Markets restated an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a research report on Tuesday, August 6th. Stifel Nicolaus restated a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Finally, TD Securities upped their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Up 1.7 %

Shares of GOOGL opened at $151.16 on Thursday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a market capitalization of $1.86 trillion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The stock has a fifty day simple moving average of $168.75 and a two-hundred day simple moving average of $164.42. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the company earned $1.44 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.