Reynders McVeigh Capital Management LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Reynders McVeigh Capital Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,352 shares of the information services provider’s stock after selling 1,302 shares during the quarter. Alphabet makes up about 2.2% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Reynders McVeigh Capital Management LLC’s holdings in Alphabet were worth $42,184,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Christopher J. Hasenberg Inc increased its holdings in Alphabet by 75.0% in the 2nd 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 during the last quarter. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter valued at about $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet in the second quarter worth about $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the second quarter worth about $41,000. Finally, Quarry LP bought a new position in Alphabet during the second quarter valued at approximately $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now directly owns 27,824 shares of the company’s stock, 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 the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the 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 sale, 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. Over the last ninety days, insiders sold 198,623 shares of company stock valued at $34,413,006. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $189.82 on Friday. The company has a market cap of $2.32 trillion, a PE ratio of 25.18, a P/E/G 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 company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s 50 day moving average price is $171.63 and its 200-day moving average price is $170.67.

Alphabet (NASDAQ:GOOGL) last announced 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 business had revenue of $88.27 billion for 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 period last year, the business posted $1.55 EPS. Sell-side analysts forecast 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 issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOGL. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Wedbush restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Seven investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.08.

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.