Hardman Johnston Global Advisors LLC Sells 95,310 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Hardman Johnston Global Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,617 shares of the information services provider’s stock after selling 95,310 shares during the quarter. Alphabet comprises 2.3% of Hardman Johnston Global Advisors LLC’s holdings, making the stock its 13th largest holding. Hardman Johnston Global Advisors LLC’s holdings in Alphabet were worth $57,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the 2nd 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 during the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter worth about $41,000. Quarry LP purchased a new stake in shares of Alphabet during the second quarter worth about $53,000. Finally, Summit Securities Group LLC acquired a new position in shares of Alphabet during the second quarter valued at about $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 over the last three months. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on GOOGL shares. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Roth Mkm lifted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Loop Capital upped their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Mizuho lifted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Up 1.6 %

GOOGL opened at $175.30 on Tuesday. 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 twelve month low of $127.90 and a twelve month high of $191.75. The company has a market cap of $2.15 trillion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company has a 50-day moving average price of $166.15 and a 200 day moving average price of $170.28.

Alphabet (NASDAQ:GOOGL) last issued its quarterly 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the company posted $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

About Alphabet

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.