Kingfisher Capital LLC Sells 1,329 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Kingfisher Capital LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,616 shares of the information services provider’s stock after selling 1,329 shares during the quarter. Alphabet makes up 1.7% of Kingfisher Capital LLC’s holdings, making the stock its 16th largest holding. Kingfisher Capital LLC’s holdings in Alphabet were worth $7,399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. New Hampshire Trust boosted its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Schear Investment Advisers LLC raised its stake in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC raised its stake in Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. raised its stake in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares during the last quarter. Finally, abrdn plc raised its stake in Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,123 shares of company stock worth $34,121,676. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. Loop Capital increased their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.03.

Alphabet Stock Up 5.5 %

Alphabet stock opened at $195.40 on Thursday. 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 12 month low of $129.68 and a 12 month high of $195.61. The stock has a market capitalization of $2.39 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The business has a 50 day simple moving average of $170.07 and a 200-day simple moving average of $170.28.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $72.85 billion. During the same period in the previous year, the business earned $1.55 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend 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.