Alphabet Inc. $GOOGL Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 241,910 shares of the information services provider’s stock after selling 4,957 shares during the period. Guinness Asset Management LTD’s holdings in Alphabet were worth $42,642,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. Brighton Jones LLC raised its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the last quarter. Smart Money Group LLC grew its stake in Alphabet by 9.4% during the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after buying an additional 532 shares during the last quarter. Sterling Financial Planning Inc. increased its position in Alphabet by 3.7% in the first quarter. Sterling Financial Planning Inc. now owns 2,870 shares of the information services provider’s stock worth $444,000 after buying an additional 103 shares during the period. Finally, Moody Aldrich Partners LLC lifted its stake in Alphabet by 3.4% in the first quarter. Moody Aldrich Partners LLC now owns 2,571 shares of the information services provider’s stock valued at $398,000 after buying an additional 84 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Roth Capital upped their price target on shares of Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Susquehanna lifted their price objective on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research report on Thursday, October 30th. Wolfe Research restated an “outperform” rating and issued a $350.00 target price (up previously from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Mizuho set a $325.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $330.00 price objective (up from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Trading Down 2.1%

Shares of NASDAQ:GOOGL opened at $278.83 on Friday. The company has a 50 day moving average of $251.23 and a 200-day moving average of $204.19. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.37 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 222,396 shares of company stock worth $54,105,275. 11.64% of the stock is owned by corporate insiders.

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.