PFS Partners LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

PFS Partners LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.9% in the third quarter, HoldingsChannel.com reports. The fund owned 1,166 shares of the information services provider’s stock after selling 220 shares during the period. PFS Partners LLC’s holdings in Alphabet were worth $193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Christopher J. Hasenberg Inc raised its position in 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. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at about $41,000. Quarry LP bought a new stake in Alphabet in the 2nd quarter worth approximately $53,000. Finally, Summit Securities Group LLC bought a new position in Alphabet during the second quarter valued at approximately $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, JMP Securities increased their target price on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.7 %

Shares of NASDAQ GOOGL opened at $164.76 on Friday. The stock has a market cap of $2.02 trillion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The firm has a 50-day moving average of $167.64 and a 200 day moving average of $170.36.

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 the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the business earned $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.