Grace & White Inc. NY Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Grace & White Inc. NY decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,350 shares of the information services provider’s stock after selling 1,100 shares during the quarter. Grace & White Inc. NY’s holdings in Alphabet were worth $1,551,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at about $36,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the 1st quarter valued at about $30,000. Denver PWM LLC purchased a new position in Alphabet during the 2nd quarter worth approximately $41,000. Finally, Quarry LP purchased a new position in Alphabet during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOOGL. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday. KeyCorp raised their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday. Sanford C. Bernstein lifted their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday. Tigress Financial raised their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group raised their price target on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.51.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock opened at $171.29 on Friday. The firm has a market cap of $2.11 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.29 and a beta of 1.04. The business has a 50-day moving average price of $162.43 and a 200 day moving average price of $168.91. Alphabet Inc. has a fifty-two week low of $126.93 and a fifty-two week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the company earned $1.55 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.85 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s 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 sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,244 shares of company stock worth $37,776,954 in the last three months. 11.55% of the stock is owned by company insiders.

Alphabet Company 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.