Townsend Asset Management Corp NC ADV Sells 999 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Townsend Asset Management Corp NC ADV decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 26,119 shares of the information services provider’s stock after selling 999 shares during the period. Alphabet makes up 1.6% of Townsend Asset Management Corp NC ADV’s holdings, making the stock its 16th largest position. Townsend Asset Management Corp NC ADV’s holdings in Alphabet were worth $4,332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Integrity Financial Corp WA grew its holdings in shares of Alphabet by 1.1% in the 3rd quarter. Integrity Financial Corp WA now owns 6,977 shares of the information services provider’s stock valued at $1,157,000 after buying an additional 75 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Alphabet by 6.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 16,870 shares of the information services provider’s stock valued at $2,798,000 after purchasing an additional 987 shares during the period. Horst & Graben Wealth Management LLC raised its holdings in Alphabet by 45.7% in the 3rd quarter. Horst & Graben Wealth Management LLC now owns 1,879 shares of the information services provider’s stock valued at $312,000 after acquiring an additional 589 shares during the period. Evernest Financial Advisors LLC raised its holdings in Alphabet by 4.0% in the 3rd quarter. Evernest Financial Advisors LLC now owns 12,036 shares of the information services provider’s stock valued at $1,996,000 after acquiring an additional 460 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Alphabet by 4.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 163,806 shares of the information services provider’s stock worth $27,167,000 after purchasing an additional 7,313 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOGL. Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday. Mizuho boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. UBS Group lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Bank of America upped their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $171.29 on Friday. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The company has a 50 day simple moving average of $162.43 and a two-hundred day simple moving average of $168.91. Alphabet Inc. has a fifty-two week low of $126.93 and a fifty-two week high of $191.75.

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. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company posted $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 7.85 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. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,244 shares of company stock worth $37,776,954. 11.55% of the stock is owned by corporate insiders.

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.