Pegasus Asset Management Inc. Sells 340 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pegasus Asset Management Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,755 shares of the information services provider’s stock after selling 340 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Alphabet were worth $789,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its holdings 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 acquiring an additional 60 shares during the period. Tributary Capital Management LLC bought a new position in Alphabet in the first quarter valued at about $30,000. Kings Path Partners LLC bought a new position in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC bought a new position in Alphabet in the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings 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 acquiring an additional 109 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,244 shares of company stock worth $37,776,954 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $171.29 on Friday. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04. Alphabet Inc. has a twelve month low of $126.93 and a twelve month high of $191.75. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $162.43 and a 200 day moving average of $168.91.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Ratings Changes

A number of research analysts have weighed in on GOOGL shares. Sanford C. Bernstein increased their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday. Bank of America upped their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Morgan Stanley upped their price target on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Jefferies Financial Group increased their target price 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 given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.51.

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.