Sterneck Capital Management LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Sterneck Capital Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,423 shares of the information services provider’s stock after selling 363 shares during the period. Alphabet makes up about 1.6% of Sterneck Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Sterneck Capital Management LLC’s holdings in Alphabet were worth $2,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Capital Research Global Investors lifted its holdings in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Vanguard Group Inc. boosted its stake in shares of Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares during the last quarter. Wulff Hansen & CO. grew its holdings in Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares during the period. Finally, PineStone Asset Management Inc. raised its position in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $163.24 on Monday. The firm has a market cap of $2.02 trillion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The business’s fifty day simple moving average is $161.37 and its 200-day simple moving average is $167.86.

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

Alphabet Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Evercore ISI dropped their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Citigroup lifted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets lowered their target price on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Truist Financial reiterated a “buy” rating and set a $196.00 price target on shares of Alphabet in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $200.95.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock valued at $35,644,136 over the last quarter. 11.55% of the stock is owned by company insiders.

Alphabet 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.