Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lessened by Hendershot Investments Inc.

Hendershot Investments Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the second quarter, HoldingsChannel.com reports. The fund owned 195,262 shares of the information services provider’s stock after selling 503 shares during the quarter. Alphabet makes up 5.1% of Hendershot Investments Inc.’s holdings, making the stock its 3rd largest position. Hendershot Investments Inc.’s holdings in Alphabet were worth $35,567,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nebula Research & Development LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $787,000. New Hampshire Trust grew its position in Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the last quarter. Matisse Capital grew its position in Alphabet by 13.7% in the 4th quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after buying an additional 2,026 shares during the last quarter. Berkshire Money Management Inc. purchased a new position in Alphabet in the 1st quarter valued at $359,000. Finally, Schneider Downs Wealth Management Advisors LP grew its position in Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value 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 $339,713,977.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,167 shares of company stock valued at $29,762,606. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Wedbush reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, September 5th. TD Securities raised their target price on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Jefferies Financial Group raised their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, August 30th. Finally, Mizuho raised their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Stock Up 1.5 %

Shares of NASDAQ:GOOGL opened at $162.14 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 24.87, a PEG ratio of 1.13 and a beta of 1.04. The stock has a 50-day simple moving average of $165.15 and a 200-day simple moving average of $165.11.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company posted $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.