F M Investments LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

F M Investments LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.9% in the 3rd quarter, Holdings Channel reports. The fund owned 485,789 shares of the information services provider’s stock after selling 41,773 shares during the period. Alphabet accounts for 2.8% of F M Investments LLC’s investment portfolio, making the stock its 4th largest holding. F M Investments LLC’s holdings in Alphabet were worth $80,568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter valued at about $41,000. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Alphabet during the second quarter worth about $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $175.58 on Friday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a market cap of $2.15 trillion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.29 and a beta of 1.03. The company’s fifty day moving average price is $164.82 and its two-hundred day moving average price is $170.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

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 net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the business posted $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group reduced their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Morgan Stanley increased their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,471,141 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

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.