Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Whitener Capital Management Inc.

Whitener Capital Management Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 99,300 shares of the information services provider’s stock after selling 1,847 shares during the quarter. Alphabet comprises about 4.7% of Whitener Capital Management Inc.’s holdings, making the stock its 4th biggest position. Whitener Capital Management Inc.’s holdings in Alphabet were worth $16,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Prosperitas Financial LLC lifted its holdings in Alphabet by 16.5% in the 3rd quarter. Prosperitas Financial LLC now owns 35,340 shares of the information services provider’s stock valued at $5,861,000 after acquiring an additional 5,014 shares during the last quarter. GFS Advisors LLC lifted its holdings in Alphabet by 82,435.2% in the 3rd quarter. GFS Advisors LLC now owns 136,183 shares of the information services provider’s stock valued at $22,586,000 after acquiring an additional 136,018 shares during the last quarter. Fort Pitt Capital Group LLC lifted its holdings in Alphabet by 0.3% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 896,587 shares of the information services provider’s stock valued at $148,699,000 after acquiring an additional 3,059 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Alphabet by 1.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,839,604 shares of the information services provider’s stock valued at $305,098,000 after acquiring an additional 33,405 shares during the last quarter. Finally, Indie Asset Partners LLC lifted its holdings in Alphabet by 19.1% in the 3rd quarter. Indie Asset Partners LLC now owns 5,775 shares of the information services provider’s stock valued at $958,000 after acquiring an additional 926 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Loop Capital upped their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Roth Mkm upped their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.8 %

Shares of Alphabet stock opened at $172.49 on Friday. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03. 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 stock has a 50 day moving average price of $165.18 and a two-hundred day moving average price of $170.08. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the business earned $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is currently 10.61%.

About Alphabet

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.