Bouvel Investment Partners LLC Sells 15,372 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bouvel Investment Partners LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 39.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,787 shares of the information services provider’s stock after selling 15,372 shares during the period. Alphabet comprises about 1.4% of Bouvel Investment Partners LLC’s investment portfolio, making the stock its 24th biggest holding. Bouvel Investment Partners LLC’s holdings in Alphabet were worth $3,945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. MorganRosel Wealth Management LLC boosted its position in shares of Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares during the period. Hengehold Capital Management LLC boosted its position in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% in 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. First PREMIER Bank boosted its position in shares of Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the period. Finally, MKT Advisors LLC boosted its position in shares of Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 35.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.1 %

Shares of GOOGL opened at $169.23 on Thursday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a 50-day moving average of $168.22 and a 200 day moving average of $170.34. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. On average, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Tigress Financial upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group dropped their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley upped their target price on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.90.

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.