Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.9% during the third quarter, Holdings Channel.com reports. The firm owned 53,982 shares of the information services provider’s stock after selling 7,258 shares during the period. Alphabet comprises 0.8% of NorthRock Partners LLC’s investment portfolio, making the stock its 21st biggest holding. NorthRock Partners LLC’s holdings in Alphabet were worth $8,953,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC acquired a new position in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $41,000. Quarry LP purchased a new position in Alphabet in the second quarter valued at $53,000. Finally, Summit Securities Group LLC acquired a new position in shares of Alphabet during the second quarter worth about $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. JMP Securities raised their target price on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, 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 note on Thursday, September 26th. Seven investment 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’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling

In related news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value 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 represents a 35.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock worth $34,471,141. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $175.30 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm has a fifty day simple moving average of $166.15 and a 200 day simple moving average of $170.28. The stock has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its 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 quarter in the previous year, the business earned $1.55 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.99 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 $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is presently 10.61%.

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.