Gimbal Financial Sells 296 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Gimbal Financial trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.5% in the third quarter, HoldingsChannel reports. The firm owned 2,817 shares of the information services provider’s stock after selling 296 shares during the quarter. Alphabet accounts for about 0.3% of Gimbal Financial’s holdings, making the stock its 28th largest holding. Gimbal Financial’s holdings in Alphabet were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Alphabet by 70.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after buying an additional 41,880 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Alphabet by 3.6% during the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC grew its holdings in shares of Alphabet by 9.5% during the first quarter. Baron Silver Stevens Financial Advisors LLC now owns 10,325 shares of the information services provider’s stock worth $1,558,000 after purchasing an additional 898 shares during the last quarter. Magnolia Capital Advisors LLC grew its holdings in shares of Alphabet by 12.6% during the first quarter. Magnolia Capital Advisors LLC now owns 20,123 shares of the information services provider’s stock worth $3,101,000 after purchasing an additional 2,259 shares during the last quarter. Finally, Pacific Wealth Strategies Group Inc. grew its holdings in shares of Alphabet by 2.6% during the first quarter. Pacific Wealth Strategies Group Inc. now owns 23,391 shares of the information services provider’s stock worth $3,530,000 after purchasing an additional 595 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet 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 completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,752 shares of company stock worth $40,156,829 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Argus upped their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Mizuho upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. JMP Securities increased their price target on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Evercore ISI upped their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Performance

Shares of Alphabet stock opened at $180.35 on Tuesday. The firm has a market capitalization of $2.21 trillion, a P/E ratio of 23.92, a P/E/G ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The firm’s 50 day moving average is $163.54 and its two-hundred day moving average is $169.74. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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 return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the company earned $1.55 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.