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

NCM Capital Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the third quarter, Holdings Channel reports. The firm owned 17,346 shares of the information services provider’s stock after selling 59 shares during the quarter. Alphabet accounts for 1.4% of NCM Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. NCM Capital Management LLC’s holdings in Alphabet were worth $2,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. International Assets Investment Management LLC grew its position in Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after buying an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC raised its holdings 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 worth $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after purchasing an additional 4,662,809 shares during the period. Wulff Hansen & CO. boosted its holdings in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. Finally, PineStone Asset Management Inc. increased its position in Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the sale, the insider now owns 43,999 shares of the company’s stock, valued at $7,280,514.53. This trade represents a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 197,123 shares of company stock valued at $34,121,676. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GOOGL shares. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Morgan Stanley lifted their price objective on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report 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 report on Wednesday, November 6th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.03.

Alphabet Trading Up 5.5 %

Shares of GOOGL stock opened at $195.40 on Thursday. 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 fifty-two week low of $129.68 and a fifty-two week high of $195.61. The firm’s 50 day moving average price is $170.07 and its two-hundred day moving average price is $170.28. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. 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 prior year, the company earned $1.55 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.