Sky Investment Group LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Sky Investment Group LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,533 shares of the information services provider’s stock after selling 648 shares during the period. Alphabet makes up approximately 2.8% of Sky Investment Group LLC’s holdings, making the stock its 3rd largest holding. Sky Investment Group LLC’s holdings in Alphabet were worth $15,844,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Graybill Wealth Management LTD. boosted its holdings in shares of Alphabet by 0.6% in the 3rd quarter. Graybill Wealth Management LTD. now owns 63,691 shares of the information services provider’s stock worth $10,563,000 after acquiring an additional 392 shares in the last quarter. Kessler Investment Group LLC boosted its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Kessler Investment Group LLC now owns 41,475 shares of the information services provider’s stock worth $6,879,000 after acquiring an additional 1,023 shares in the last quarter. DeDora Capital Inc. lifted its holdings in Alphabet by 0.6% during the 3rd quarter. DeDora Capital Inc. now owns 21,752 shares of the information services provider’s stock worth $3,608,000 after buying an additional 122 shares in the last quarter. Calton & Associates Inc. lifted its holdings in Alphabet by 162.8% during the 3rd quarter. Calton & Associates Inc. now owns 4,409 shares of the information services provider’s stock worth $731,000 after buying an additional 2,731 shares in the last quarter. Finally, Oakworth Capital Inc. lifted its holdings in Alphabet by 2.5% during the 3rd quarter. Oakworth Capital Inc. now owns 22,569 shares of the information services provider’s stock worth $3,743,000 after buying an additional 559 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were 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 owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 230,244 shares of company stock valued at $37,776,954 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $171.29 on Friday. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04. The firm’s fifty day moving average is $162.43 and its 200 day moving average is $168.91. 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 Inc. has a 52-week low of $126.93 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Sell-side analysts forecast 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. Investors of record on Monday, December 9th will be paid 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 presently 10.61%.

Analyst Ratings Changes

Several research firms have issued reports on GOOGL. Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Wednesday. Wolfe Research initiated coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. Finally, JMP Securities upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.51.

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.