Alphabet Inc. (NASDAQ:GOOGL) Holdings Lowered by Verus Capital Partners LLC

Verus Capital Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,236 shares of the information services provider’s stock after selling 14,072 shares during the period. Alphabet comprises approximately 1.7% of Verus Capital Partners LLC’s portfolio, making the stock its 10th largest position. Verus Capital Partners LLC’s holdings in Alphabet were worth $18,614,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in Alphabet in the second quarter valued at $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the second quarter valued at about $41,000. Quarry LP acquired a new stake in shares of Alphabet during the second quarter worth about $53,000. Finally, Summit Securities Group LLC purchased a new position in shares of Alphabet during the second quarter worth about $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,673,866 in the last three months. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Truist Financial increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Seven 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Up 0.9 %

GOOGL stock opened at $169.12 on Wednesday. The company has a 50 day moving average price of $168.03 and a two-hundred day moving average price of $170.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 22.43, a PEG ratio of 1.17 and a beta of 1.03. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio 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.