Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lessened by Ingalls & Snyder LLC

Ingalls & Snyder LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 317,552 shares of the information services provider’s stock after selling 4,471 shares during the quarter. Alphabet comprises about 2.1% of Ingalls & Snyder LLC’s holdings, making the stock its 8th largest position. Ingalls & Snyder LLC’s holdings in Alphabet were worth $52,666,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lantz Financial LLC boosted its holdings in Alphabet by 10.8% in the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after purchasing an additional 452 shares during the period. RFG Advisory LLC raised its position in shares of Alphabet by 27.7% in the second quarter. RFG Advisory LLC now owns 67,487 shares of the information services provider’s stock worth $12,293,000 after buying an additional 14,647 shares in the last quarter. Realta Investment Advisors boosted its stake in Alphabet by 5.7% during the second quarter. Realta Investment Advisors now owns 31,879 shares of the information services provider’s stock valued at $5,807,000 after buying an additional 1,730 shares during the period. Granite Bay Wealth Management LLC grew its position in Alphabet by 6,410.2% during the second quarter. Granite Bay Wealth Management LLC now owns 109,566 shares of the information services provider’s stock worth $18,488,000 after buying an additional 107,883 shares in the last quarter. Finally, Northwest Investment Counselors LLC increased its stake in Alphabet by 3.5% in the 2nd quarter. Northwest Investment Counselors LLC now owns 17,595 shares of the information services provider’s stock worth $3,205,000 after acquiring an additional 590 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 198,623 shares of company stock valued at $34,413,006. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $189.82 on Friday. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $195.61. The stock has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. The company’s 50-day moving average is $171.63 and its 200 day moving average is $170.71. 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 (NASDAQ:GOOGL) last posted its 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 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 the consensus estimate of $72.85 billion. During the same quarter in the prior year, the business earned $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GOOGL shares. KeyCorp lifted their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Bank of America upped their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $206.08.

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.