Clark Estates Inc. NY Sells 10,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Clark Estates Inc. NY trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,420 shares of the information services provider’s stock after selling 10,000 shares during the quarter. Alphabet comprises approximately 1.6% of Clark Estates Inc. NY’s investment portfolio, making the stock its 13th biggest position. Clark Estates Inc. NY’s holdings in Alphabet were worth $8,528,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc grew its stake in shares of 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 in the last quarter. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter worth approximately $32,000. Kings Path Partners LLC bought a new position in shares of Alphabet during the second quarter worth approximately $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the second quarter worth approximately $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet in the second quarter valued at approximately $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GOOGL shares. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Wedbush restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Sanford C. Bernstein upped their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada upped their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,789 shares of company stock valued at $27,374,143 in the last three months. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $175.37 on Tuesday. Alphabet Inc. has a 1-year low of $129.68 and a 1-year high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.15 trillion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The stock’s fifty day simple moving average is $169.70 and its two-hundred day simple moving average is $170.21.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid 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 payout ratio is 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.