Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Carl P. Sherr & Co. LLC

Carl P. Sherr & Co. LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 32.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,940 shares of the information services provider’s stock after selling 920 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in Alphabet were worth $322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Lantz Financial LLC grew its position in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after buying an additional 452 shares during the period. Capital Investment Advisors LLC grew its position in Alphabet by 4.5% during the second quarter. Capital Investment Advisors LLC now owns 376,816 shares of the information services provider’s stock valued at $68,637,000 after buying an additional 16,253 shares during the period. St. Louis Financial Planners Asset Management LLC grew its position in Alphabet by 50.0% during the second quarter. St. Louis Financial Planners Asset Management LLC now owns 19,221 shares of the information services provider’s stock valued at $3,517,000 after buying an additional 6,404 shares during the period. Register Financial Advisors LLC grew its position in shares of Alphabet by 16.6% in the second quarter. Register Financial Advisors LLC now owns 2,823 shares of the information services provider’s stock valued at $514,000 after purchasing an additional 401 shares during the period. Finally, Annex Advisory Services LLC increased its stake in shares of Alphabet by 2.1% during the second quarter. Annex Advisory Services LLC now owns 37,951 shares of the information services provider’s stock worth $6,913,000 after purchasing an additional 785 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,923 shares of company stock worth $34,244,676 in the last ninety days. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $185.17 on Wednesday. The firm has a market cap of $2.27 trillion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a 52-week low of $129.68 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’s 50 day moving average is $169.70 and its two-hundred day moving average is $170.21.

Alphabet (NASDAQ:GOOGL) last released its 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 company 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 period in the prior year, the business earned $1.55 EPS. On average, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GOOGL shares. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Tigress Financial increased their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Bank of America lifted their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $206.03.

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.