Premier Fund Managers Ltd Sells 11,882 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Premier Fund Managers Ltd lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 20.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,530 shares of the information services provider’s stock after selling 11,882 shares during the quarter. Premier Fund Managers Ltd’s holdings in Alphabet were worth $7,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc lifted 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 purchasing an additional 60 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Alphabet in the third quarter valued at $32,000. Kings Path Partners LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter worth $41,000. Finally, Quarry LP purchased a new stake in shares of Alphabet during the second quarter worth $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOGL. Loop Capital increased their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Finally, Bank of America lifted their price objective on Alphabet from $206.00 to $210.00 and gave the company a “buy” 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 company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Down 0.1 %

Shares of NASDAQ GOOGL opened at $171.34 on Wednesday. The firm’s fifty day moving average is $168.84 and its 200 day moving average is $170.26. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. 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 company has a market cap of $2.10 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.22 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 EPS. On average, equities research analysts expect 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. Shareholders 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 payout ratio is 10.61%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,624 shares of company stock worth $27,803,730. 11.55% of the stock is currently owned by company insiders.

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.