Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Immersion Capital LLP

Immersion Capital LLP reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,010 shares of the information services provider’s stock after selling 23,000 shares during the period. Alphabet makes up about 17.4% of Immersion Capital LLP’s holdings, making the stock its 3rd largest holding. Immersion Capital LLP’s holdings in Alphabet were worth $31,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schear Investment Advisers LLC increased its position in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC grew its stake in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. raised its stake in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares in the last quarter. abrdn plc raised its stake in Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its holdings in Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday. Royal Bank of Canada raised their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Morgan Stanley lifted their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, DA Davidson initiated coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Seven 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,623 shares of company stock valued at $34,413,006. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.1 %

Shares of NASDAQ GOOGL opened at $189.82 on Friday. The stock has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $195.61. The firm has a 50-day moving average price of $171.63 and a 200 day moving average price of $170.71. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results 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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm earned $1.55 EPS. Equities research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. 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.