Cheviot Value Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Cheviot Value Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 196,250 shares of the information services provider’s stock after selling 9,587 shares during the period. Alphabet accounts for approximately 6.1% of Cheviot Value Management LLC’s portfolio, making the stock its 3rd largest position. Cheviot Value Management LLC’s holdings in Alphabet were worth $32,548,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Lantz Financial LLC grew its holdings in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after buying an additional 452 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of Alphabet by 27.7% in the second quarter. RFG Advisory LLC now owns 67,487 shares of the information services provider’s stock valued at $12,293,000 after purchasing an additional 14,647 shares during the last quarter. Realta Investment Advisors lifted its position in shares of Alphabet by 5.7% during the second quarter. Realta Investment Advisors now owns 31,879 shares of the information services provider’s stock valued at $5,807,000 after purchasing an additional 1,730 shares in the last quarter. Granite Bay Wealth Management LLC boosted its holdings in Alphabet by 6,410.2% during the second quarter. Granite Bay Wealth Management LLC now owns 109,566 shares of the information services provider’s stock worth $18,488,000 after purchasing an additional 107,883 shares during the last quarter. Finally, Northwest Investment Counselors LLC grew its position in Alphabet by 3.5% in the 2nd quarter. Northwest Investment Counselors LLC now owns 17,595 shares of the information services provider’s stock worth $3,205,000 after purchasing an additional 590 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on GOOGL shares. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Loop Capital raised their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Bank of America increased their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,623 shares of company stock valued at $34,413,006. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Down 1.1 %

Shares of GOOGL stock opened at $189.82 on Friday. 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 firm has a market cap of $2.32 trillion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The business has a 50-day moving average price of $171.63 and a two-hundred day moving average price of $170.71. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $195.61.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared 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 of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s payout ratio is 10.61%.

Alphabet 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.