Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Cut by In Depth Partners LLC

In Depth Partners LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,774 shares of the information services provider’s stock after selling 7,849 shares during the quarter. Alphabet makes up 9.4% of In Depth Partners LLC’s investment portfolio, making the stock its 5th biggest position. In Depth Partners LLC’s holdings in Alphabet were worth $9,084,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Alphabet during the third quarter worth about $32,000. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP acquired a new position 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.

Alphabet Price Performance

Alphabet stock opened at $189.82 on Friday. The business has a 50 day simple moving average of $171.63 and a 200-day simple moving average of $170.71. Alphabet Inc. has a 12 month low of $129.68 and a 12 month high of $195.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.32 trillion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the business earned $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current 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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOOGL shares. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. KeyCorp lifted their target price on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Roth Mkm upped their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,623 shares of company stock valued at $34,413,006 in the last three months. 11.55% of the stock is currently owned by company insiders.

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.