Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 85.5% in the third quarter, HoldingsChannel reports. The fund owned 1,920 shares of the information services provider’s stock after selling 11,300 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Alphabet were worth $318,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Austin Asset Management Co Inc increased its holdings in shares of Alphabet by 3.6% during the 3rd quarter. Austin Asset Management Co Inc now owns 3,550 shares of the information services provider’s stock worth $589,000 after buying an additional 124 shares during the last quarter. GSG Advisors LLC boosted its holdings in Alphabet by 13.2% in the third quarter. GSG Advisors LLC now owns 6,446 shares of the information services provider’s stock valued at $1,076,000 after acquiring an additional 753 shares during the last quarter. Essex Savings Bank grew its position in Alphabet by 2.3% during the third quarter. Essex Savings Bank now owns 26,013 shares of the information services provider’s stock valued at $4,314,000 after acquiring an additional 581 shares during the period. Cypress Point Wealth Management LLC increased its stake in Alphabet by 2.4% during the third quarter. Cypress Point Wealth Management LLC now owns 3,617 shares of the information services provider’s stock worth $600,000 after acquiring an additional 86 shares during the last quarter. Finally, Objective Capital Management LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at about $1,820,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Tigress Financial lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Trading Down 1.7 %

Alphabet stock opened at $164.76 on Friday. 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 Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The firm’s 50-day moving average is $167.64 and its 200-day moving average is $170.35. The company has a market cap of $2.02 trillion, a P/E ratio of 21.85, a PEG ratio of 1.19 and a beta of 1.03.

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, topping analysts’ consensus estimates of $1.83 by $0.29. The firm 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 company posted $1.55 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,673,866 in the last three months. 11.55% of the stock is owned by insiders.

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.