Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Empire Financial Management Company LLC

Empire Financial Management Company LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 27.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 20,186 shares of the information services provider’s stock after selling 7,707 shares during the period. Alphabet accounts for approximately 1.0% of Empire Financial Management Company LLC’s portfolio, making the stock its 27th biggest holding. Empire Financial Management Company LLC’s holdings in Alphabet were worth $3,348,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% in the second 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. LMR Partners LLP purchased a new stake in Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the 2nd quarter worth $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the 2nd quarter worth $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet during the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $195.42 on Wednesday. The stock’s 50-day simple moving average is $172.93 and its 200-day simple moving average is $170.97. The firm has a market capitalization of $2.39 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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 analysts’ expectations of $72.85 billion. During the same quarter last year, the company earned $1.55 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio is presently 10.61%.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction 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 owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,957 shares of company stock valued at $31,358,687. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven 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’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Alphabet Company 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.