Wexford Capital LP Sells 1,028 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Wexford Capital LP reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 28.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,594 shares of the information services provider’s stock after selling 1,028 shares during the period. Wexford Capital LP’s holdings in Alphabet were worth $430,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Lantz Financial LLC raised its stake in Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after purchasing an additional 452 shares during the last quarter. Spectrum Wealth Advisory Group LLC bought a new position in shares of Alphabet during the 2nd quarter worth about $218,000. Maia Wealth LLC acquired a new position in shares of Alphabet during the second quarter valued at about $5,474,000. Diversified Trust Co grew its position in Alphabet by 23.7% during the second quarter. Diversified Trust Co now owns 241,932 shares of the information services provider’s stock worth $44,068,000 after buying an additional 46,338 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. grew its position in Alphabet by 1.3% during the second quarter. Ipswich Investment Management Co. Inc. now owns 60,629 shares of the information services provider’s stock worth $11,044,000 after buying an additional 790 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $189.82 on Monday. The business’s 50-day simple moving average is $171.63 and its 200 day simple moving average is $170.63. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.32 trillion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $195.61.

Alphabet (NASDAQ:GOOGL) last issued its 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. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research reports. Bank of America raised their price objective on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Morgan Stanley increased their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Loop Capital lifted their target price on shares of Alphabet from $170.00 to $185.00 and gave the company 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 given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 700 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. This trade represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,623 shares of company stock worth $34,413,006. Insiders own 11.55% of the company’s stock.

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.