Oppenheimer Asset Management Inc. Sells 31,757 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Oppenheimer Asset Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.8% in the 3rd quarter, Holdings Channel reports. The firm owned 433,923 shares of the information services provider’s stock after selling 31,757 shares during the quarter. Alphabet accounts for 0.9% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 17th largest position. Oppenheimer Asset Management Inc.’s holdings in Alphabet were worth $71,966,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Saturna Capital Corp boosted its holdings in Alphabet by 0.3% in the 3rd quarter. Saturna Capital Corp now owns 1,430,995 shares of the information services provider’s stock valued at $237,331,000 after purchasing an additional 4,003 shares during the period. Simmons Bank lifted its holdings in shares of Alphabet by 2.7% during the 3rd quarter. Simmons Bank now owns 98,562 shares of the information services provider’s stock worth $16,347,000 after acquiring an additional 2,605 shares during the last quarter. Community Bank & Trust Waco Texas lifted its holdings in shares of Alphabet by 0.8% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 49,452 shares of the information services provider’s stock worth $8,202,000 after acquiring an additional 393 shares during the last quarter. Haverford Trust Co lifted its holdings in shares of Alphabet by 36.3% during the 3rd quarter. Haverford Trust Co now owns 912,327 shares of the information services provider’s stock worth $151,309,000 after acquiring an additional 242,906 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its holdings in shares of Alphabet by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 97,437 shares of the information services provider’s stock worth $16,160,000 after acquiring an additional 8,165 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOGL. Roth Mkm lifted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Loop Capital lifted their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Seven research 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 stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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. The trade was a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ 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 debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50-day moving average is $168.22 and its 200 day moving average is $170.34. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the company earned $1.55 earnings per share. On average, sell-side analysts expect 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. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 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.