Baron Wealth Management LLC Sells 241 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Baron Wealth Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,699 shares of the information services provider’s stock after selling 241 shares during the quarter. Baron Wealth Management LLC’s holdings in Alphabet were worth $779,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC raised its holdings in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares during the last quarter. Hengehold Capital Management LLC lifted its holdings in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares during the period. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. First PREMIER Bank grew its holdings in Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after acquiring an additional 61 shares during the period. Finally, Cutler Investment Counsel LLC raised its position in shares of Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 1.5 %

Shares of NASDAQ:GOOGL opened at $171.49 on Tuesday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The business has a 50 day moving average of $168.47 and a 200-day moving average of $170.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.10 trillion, a PE ratio of 22.74, a P/E/G ratio of 1.20 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the firm posted $1.55 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the firm’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 transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,124 shares of company stock worth $31,374,030 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on GOOGL. Bank of America raised their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $210.00 target price (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, KeyCorp boosted their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.