XTX Topco Ltd Sells 2,026 Shares of Alphabet Inc. (NASDAQ:GOOGL)

XTX Topco Ltd lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 24,368 shares of the information services provider’s stock after selling 2,026 shares during the period. Alphabet comprises about 0.3% of XTX Topco Ltd’s investment portfolio, making the stock its 23rd largest position. XTX Topco Ltd’s holdings in Alphabet were worth $4,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp grew its holdings in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after acquiring an additional 743,369 shares during the period. Fisher Asset Management LLC grew its stake in Alphabet by 2.5% during the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Bank of New York Mellon Corp increased its holdings in Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after buying an additional 523,416 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after buying an additional 418,204 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was 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 in the company, valued at approximately $339,713,977.55. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,623 shares of company stock worth $34,413,006. 11.55% of the stock is owned by company insiders.

Alphabet Trading Down 1.1 %

Shares of GOOGL opened at $189.82 on Monday. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $195.61. The business has a 50-day moving average of $171.63 and a 200 day moving average of $170.63. The firm has a market cap 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 debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate 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 company 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GOOGL shares. Piper Sandler reiterated an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Evercore ISI boosted their target price on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.08.

About Alphabet

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.