Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,868 shares of the information services provider’s stock after selling 351 shares during the quarter. Alphabet comprises 1.1% of Mitchell Mcleod Pugh & Williams Inc.’s portfolio, making the stock its 17th biggest position. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Alphabet were worth $5,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $41,000. Quarry LP acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $53,000. Finally, Summit Securities Group LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 1.7 %

Alphabet stock opened at $164.76 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50-day simple moving average is $167.64 and its 200-day simple moving average is $170.36. The firm has a market capitalization of $2.02 trillion, a PE ratio of 21.85, a PEG ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley raised their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research raised their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Loop Capital raised their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,795 shares of company stock worth $34,673,866. Company insiders own 11.55% of the company’s stock.

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.