Knuff & Co LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOGL)

Knuff & Co LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,504 shares of the information services provider’s stock after selling 681 shares during the period. Knuff & Co LLC’s holdings in Alphabet were worth $2,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. China Universal Asset Management Co. Ltd. increased its position 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 valued at $15,279,000 after acquiring an additional 41,880 shares during the last quarter. Quent Capital LLC grew its stake 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 valued at $4,705,000 after purchasing an additional 1,072 shares during the period. Strategic Wealth Partners Ltd. increased its position in shares of Alphabet by 0.8% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 71,060 shares of the information services provider’s stock valued at $10,725,000 after purchasing an additional 574 shares during the last quarter. Milestones Administradora de Recursos Ltda. lifted its stake in shares of Alphabet by 494.8% in the 1st quarter. Milestones Administradora de Recursos Ltda. now owns 278,775 shares of the information services provider’s stock worth $42,076,000 after purchasing an additional 231,910 shares during the period. Finally, Adams Wealth Management boosted its holdings in shares of Alphabet by 23.0% in the first quarter. Adams Wealth Management now owns 16,181 shares of the information services provider’s stock worth $2,442,000 after buying an additional 3,027 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,124 shares of company stock worth $31,374,030. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. JMP Securities raised their target price on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

Shares of GOOGL stock opened at $171.49 on Tuesday. The firm has a market capitalization of $2.10 trillion, a P/E ratio of 22.74, a P/E/G ratio of 1.20 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 company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day moving average price of $168.47 and a 200 day moving average price of $170.31.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is 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.