1834 Investment Advisors Co. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

1834 Investment Advisors Co. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,744 shares of the information services provider’s stock after selling 1,301 shares during the period. 1834 Investment Advisors Co.’s holdings in Alphabet were worth $7,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MorganRosel Wealth Management LLC lifted its position in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares during the last quarter. Hengehold Capital Management LLC increased its position in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. First PREMIER Bank boosted its position in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares in the last quarter. Finally, MKT Advisors LLC raised its stake in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after buying an additional 62 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock worth $34,471,141. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOGL. Mizuho lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Guggenheim upped their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Up 1.6 %

Shares of GOOGL opened at $175.30 on Tuesday. The stock’s 50-day moving average price is $166.15 and its 200 day moving average price is $170.28. 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 Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The firm has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted 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 firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the company earned $1.55 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is presently 10.61%.

About Alphabet

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.