Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Heritage Financial Services LLC

Heritage Financial Services LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,235 shares of the information services provider’s stock after selling 130 shares during the period. Heritage Financial Services LLC’s holdings in Alphabet were worth $537,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pachira Investments Inc. boosted its position in shares of Alphabet by 5.2% in the first quarter. Pachira Investments Inc. now owns 4,192 shares of the information services provider’s stock worth $633,000 after acquiring an additional 208 shares during the last quarter. PCG Wealth Advisors LLC boosted its position in shares of Alphabet by 4.6% in the first quarter. PCG Wealth Advisors LLC now owns 3,446 shares of the information services provider’s stock worth $520,000 after acquiring an additional 153 shares during the last quarter. Kovack Advisors Inc. boosted its position in shares of Alphabet by 4.3% in the first quarter. Kovack Advisors Inc. now owns 98,232 shares of the information services provider’s stock worth $14,826,000 after acquiring an additional 4,089 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Alphabet by 0.3% in the first quarter. Cornerstone Wealth Management LLC now owns 43,079 shares of the information services provider’s stock worth $6,502,000 after acquiring an additional 132 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Alphabet by 16.0% in the first quarter. First Trust Direct Indexing L.P. now owns 239,116 shares of the information services provider’s stock worth $36,090,000 after acquiring an additional 32,925 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. TD Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. UBS Group lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Guggenheim boosted their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,552 shares of company stock valued at $34,433,848 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

GOOGL stock opened at $169.74 on Wednesday. The company has a market capitalization of $2.09 trillion, a P/E ratio of 22.51, a PEG ratio of 1.22 and a beta of 1.03. The company has a 50-day simple moving average of $162.59 and a 200 day simple moving average of $169.31. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. 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 (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the company posted $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 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.