Alphabet Inc. (NASDAQ:GOOGL) Position Lowered by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,169,281 shares of the information services provider’s stock after selling 17,856 shares during the period. Alphabet accounts for 3.9% of Border to Coast Pensions Partnership Ltd’s portfolio, making the stock its 6th largest holding. Border to Coast Pensions Partnership Ltd’s holdings in Alphabet were worth $193,359,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. River Street Advisors LLC boosted its holdings in Alphabet by 9.0% during the 1st quarter. River Street Advisors LLC now owns 14,652 shares of the information services provider’s stock valued at $2,211,000 after acquiring an additional 1,208 shares during the period. Richardson Capital Management LLC grew its position in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares in the last quarter. Cornerstone Wealth Group LLC increased its stake in shares of Alphabet by 60.5% during the first quarter. Cornerstone Wealth Group LLC now owns 62,799 shares of the information services provider’s stock valued at $9,478,000 after buying an additional 23,684 shares during the period. Avalon Capital Management raised its holdings in shares of Alphabet by 10.0% in the first quarter. Avalon Capital Management now owns 193,631 shares of the information services provider’s stock valued at $29,225,000 after acquiring an additional 17,540 shares in the last quarter. Finally, Gradient Capital Advisors LLC lifted its stake in Alphabet by 1.4% in the first quarter. Gradient Capital Advisors LLC now owns 21,245 shares of the information services provider’s stock worth $3,207,000 after acquiring an additional 290 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GOOGL shares. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday. Bank of America boosted their price target on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim upped their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI increased their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.51.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,744 shares of company stock valued at $35,878,764 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Down 1.9 %

Shares of NASDAQ GOOGL opened at $171.11 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $162.32 and its two-hundred day moving average is $168.79. Alphabet Inc. has a 52-week low of $122.68 and a 52-week high of $191.75. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm earned $1.55 earnings per share. Research analysts predict that Alphabet Inc. will post 7.65 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is 12.27%.

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.