Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Hixon Zuercher LLC

Hixon Zuercher LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,525 shares of the information services provider’s stock after selling 203 shares during the period. Alphabet makes up approximately 1.9% of Hixon Zuercher LLC’s portfolio, making the stock its 20th biggest holding. Hixon Zuercher LLC’s holdings in Alphabet were worth $4,731,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOGL. International Assets Investment Management LLC boosted its holdings in Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares during the period. Capital Research Global Investors boosted its stake in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares during the period. Finally, Wulff Hansen & CO. raised its position in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on GOOGL shares. Mizuho boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. UBS Group boosted their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s 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 sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,471,141 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $175.30 on Tuesday. The business’s 50-day simple moving average is $166.15 and its 200-day simple moving average is $170.28. The firm has a market capitalization of $2.15 trillion, a P/E ratio of 23.25, a P/E/G ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

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

Alphabet Dividend Announcement

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 paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend 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.