Alphabet Inc. (NASDAQ:GOOGL) is Wellington Management Group LLP’s 6th Largest Position

Wellington Management Group LLP cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,007,864 shares of the information services provider’s stock after selling 70,020 shares during the quarter. Alphabet makes up approximately 1.7% of Wellington Management Group LLP’s holdings, making the stock its 6th largest holding. Wellington Management Group LLP’s holdings in Alphabet were worth $9,454,754,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Worldquant Millennium Advisors LLC lifted its position in shares of Alphabet by 26.5% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,069,065 shares of the information services provider’s stock worth $177,304,000 after purchasing an additional 223,890 shares during the period. Wahed Invest LLC lifted its holdings in Alphabet by 8.5% in the third quarter. Wahed Invest LLC now owns 142,094 shares of the information services provider’s stock worth $23,566,000 after buying an additional 11,167 shares during the period. Wallace Capital Management Inc. boosted its position in Alphabet by 7.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 3,277 shares of the information services provider’s stock valued at $543,000 after acquiring an additional 237 shares in the last quarter. Weaver Consulting Group raised its position in shares of Alphabet by 5.0% in the 3rd quarter. Weaver Consulting Group now owns 9,625 shares of the information services provider’s stock worth $1,596,000 after acquiring an additional 461 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of Alphabet in the 3rd quarter valued at approximately $23,989,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 sale, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,623 shares of company stock valued at $34,413,006 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Down 1.1 %

NASDAQ GOOGL opened at $189.82 on Monday. The stock’s 50-day moving average price is $171.63 and its 200-day moving average price is $170.63. The company has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $195.61.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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 company 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 quarter last year, the business earned $1.55 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Loop Capital raised their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Finally, Bank of America boosted their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven equities 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.08.

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.