Baldwin Investment Management LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Baldwin Investment Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,711 shares of the information services provider’s stock after selling 434 shares during the period. Alphabet accounts for about 0.7% of Baldwin Investment Management LLC’s holdings, making the stock its 17th biggest holding. Baldwin Investment Management LLC’s holdings in Alphabet were worth $5,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. New Hampshire Trust lifted its position in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Schear Investment Advisers LLC lifted its holdings in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after buying an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC boosted its position in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the last quarter. abrdn plc grew its stake in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. increased its position in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank of Canada increased their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. KeyCorp increased their target price on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Bank of America raised their price objective on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Read Our Latest Stock Analysis on Alphabet

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares of the company’s stock, valued at $7,280,514.53. This trade represents a 27.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,789 shares of company stock worth $27,374,143 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.5 %

Shares of Alphabet stock opened at $175.37 on Tuesday. 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 Inc. has a 1-year low of $129.68 and a 1-year high of $191.75. The business’s fifty day moving average price is $169.70 and its two-hundred day moving average price is $170.21. The company has a market capitalization of $2.15 trillion, a P/E ratio of 23.26, a PEG ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued 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. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, research analysts forecast 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. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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