Mathes Company Inc. Sells 4,318 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mathes Company Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 49,019 shares of the information services provider’s stock after selling 4,318 shares during the quarter. Alphabet comprises approximately 2.9% of Mathes Company Inc.’s holdings, making the stock its 6th largest holding. Mathes Company Inc.’s holdings in Alphabet were worth $8,130,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOGL. Vanguard Group Inc. lifted its stake in shares of Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. Capital Research Global Investors raised its position in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.5% during the 2nd 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 acquiring an additional 238,403 shares in the last quarter. Capital World Investors grew its position in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after acquiring an additional 597,756 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Alphabet by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,471,141 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $175.58 on Friday. The company’s 50 day moving average is $164.82 and its two-hundred day moving average is $170.04. The firm has a market cap of $2.15 trillion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the business posted $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid 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 dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Finally, UBS Group raised their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.