Perpetual Ltd Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Perpetual Ltd lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 50.5% in the third quarter, HoldingsChannel.com reports. The firm owned 576,039 shares of the information services provider’s stock after selling 587,049 shares during the quarter. Alphabet accounts for 1.0% of Perpetual Ltd’s portfolio, making the stock its 27th largest position. Perpetual Ltd’s holdings in Alphabet were worth $95,536,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Westwind Capital boosted its position in shares of Alphabet by 25.4% in the 1st quarter. Westwind Capital now owns 791 shares of the information services provider’s stock worth $119,000 after buying an additional 160 shares in the last quarter. Atlas Brown Inc. lifted its holdings in shares of Alphabet by 7.3% in the first quarter. Atlas Brown Inc. now owns 11,560 shares of the information services provider’s stock valued at $1,745,000 after purchasing an additional 790 shares in the last quarter. Tompkins Financial Corp grew its position in shares of Alphabet by 3.1% in the first quarter. Tompkins Financial Corp now owns 74,501 shares of the information services provider’s stock valued at $11,244,000 after purchasing an additional 2,259 shares during the last quarter. jvl associates llc increased its stake in shares of Alphabet by 0.8% during the 1st quarter. jvl associates llc now owns 15,553 shares of the information services provider’s stock worth $2,347,000 after purchasing an additional 124 shares in the last quarter. Finally, Emprise Bank acquired a new position in shares of Alphabet during the 1st quarter worth approximately $1,845,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock valued at $35,993,340. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $162.93 on Friday. The business has a 50 day moving average price of $161.77 and a two-hundred day moving average price of $168.01. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market cap of $2.01 trillion, a PE ratio of 24.99, a price-to-earnings-growth 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 issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates 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 earned $1.44 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GOOGL shares. Loop Capital reiterated a “hold” rating and set a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Jefferies Financial Group lifted their price objective on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Rosenblatt Securities restated a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday, September 5th. Eight analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.76.

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.