Appleton Partners Inc. MA Sells 1,379 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Appleton Partners Inc. MA trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 57,002 shares of the information services provider’s stock after selling 1,379 shares during the period. Appleton Partners Inc. MA’s holdings in Alphabet were worth $9,454,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GOOGL. Wellington Wealth Strategies LLC. bought a new position in Alphabet during the 4th quarter worth $10,828,000. Hiddenite Capital Partners LP bought a new position in Alphabet during the 4th quarter worth $2,584,000. Able Wealth Management LLC bought a new position in Alphabet during the 4th quarter worth $371,000. GLOBALT Investments LLC GA bought a new position in Alphabet during the 4th quarter worth $12,522,000. Finally, V Square Quantitative Management LLC raised its position in Alphabet by 82.7% during the 4th quarter. V Square Quantitative Management LLC now owns 70,981 shares of the information services provider’s stock worth $9,915,000 after purchasing an additional 32,138 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Argus lifted their price objective on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Pivotal Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada lifted their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial reissued a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Monday, September 16th. Finally, Evercore ISI lowered their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $200.95.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $163.24 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The stock’s 50 day moving average price is $161.37 and its 200-day moving average price is $167.75. The company has a market capitalization of $2.02 trillion, a PE ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the firm posted $1.44 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock valued at $35,644,136 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

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.