Congress Asset Management Co. Sells 3,278 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Congress Asset Management Co. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,025,527 shares of the information services provider’s stock after selling 3,278 shares during the period. Alphabet makes up approximately 1.2% of Congress Asset Management Co.’s investment portfolio, making the stock its 11th biggest position. Congress Asset Management Co.’s holdings in Alphabet were worth $170,084,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its stake in 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 purchasing an additional 41,880 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Alphabet by 3.6% during the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after buying an additional 1,072 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its position in shares of Alphabet by 9.0% during the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 15,356 shares of the information services provider’s stock worth $2,318,000 after buying an additional 1,268 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Alphabet by 1.2% in the first quarter. Proficio Capital Partners LLC now owns 37,256 shares of the information services provider’s stock valued at $5,623,000 after buying an additional 431 shares in the last quarter. Finally, CapWealth Advisors LLC grew its position in Alphabet by 2,209.9% in the first quarter. CapWealth Advisors LLC now owns 39,246 shares of the information services provider’s stock valued at $5,923,000 after acquiring an additional 37,547 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This 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. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated 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 owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 241,752 shares of company stock worth $40,156,829. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup raised their price objective on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, DA Davidson began 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 investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Up 0.7 %

NASDAQ:GOOGL opened at $181.62 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a market cap of $2.22 trillion, a PE ratio of 24.09, a P/E/G ratio of 1.27 and a beta of 1.03. The company’s 50 day moving average is $163.88 and its two-hundred day moving average is $169.91.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the business posted $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

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.