Alphabet Inc. (NASDAQ:GOOGL) is Fmr LLC’s 6th Largest Position

Fmr LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,316,014 shares of the information services provider’s stock after selling 2,112,773 shares during the quarter. Alphabet makes up 2.3% of Fmr LLC’s holdings, making the stock its 6th largest position. Fmr LLC’s holdings in Alphabet were worth $37,534,511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% in the 2nd 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 period. LMR Partners LLP acquired a new position in shares of Alphabet during the 3rd quarter worth about $32,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the second quarter worth approximately $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the second quarter worth approximately $41,000. Finally, Quarry LP acquired a new position in Alphabet in the 2nd quarter valued at $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now directly owns 27,824 shares in the company, valued at $4,590,960. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,624 shares of company stock worth $27,803,730. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GOOGL shares. Sanford C. Bernstein raised their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Up 1.2 %

Shares of NASDAQ:GOOGL opened at $174.71 on Monday. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $191.75. The firm’s 50 day moving average price is $169.51 and its 200 day moving average price is $170.20. 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 $2.14 trillion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01.

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. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the company earned $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) 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.