Glen Eagle Advisors LLC Sells 555 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Glen Eagle Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,394 shares of the information services provider’s stock after selling 555 shares during the period. Alphabet makes up approximately 1.0% of Glen Eagle Advisors LLC’s holdings, making the stock its 23rd biggest position. Glen Eagle Advisors LLC’s holdings in Alphabet were worth $5,704,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP bought a new position in Alphabet during the 3rd quarter valued at about $32,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter worth approximately $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet during the second quarter valued at approximately $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,623 shares of company stock valued at $34,413,006 over the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $189.82 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $2.32 trillion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $195.61. The stock’s 50 day simple moving average is $171.63 and its two-hundred day simple moving average is $170.63.

Alphabet (NASDAQ:GOOGL) last announced its quarterly 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on GOOGL. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. KeyCorp boosted their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research 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 given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus 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.