Saratoga Research & Investment Management Sells 32,106 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Saratoga Research & Investment Management trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 932,640 shares of the information services provider’s stock after selling 32,106 shares during the quarter. Alphabet accounts for approximately 6.8% of Saratoga Research & Investment Management’s portfolio, making the stock its 4th biggest position. Saratoga Research & Investment Management’s holdings in Alphabet were worth $154,678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Alphabet during the 3rd quarter worth $32,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new position in Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet in the 2nd quarter valued at $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 3.6 %

Shares of Alphabet stock opened at $188.40 on Thursday. The company has a fifty day moving average price of $173.46 and a 200 day moving average price of $171.09. 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 Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The stock has a market cap of $2.31 trillion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the firm earned $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,957 shares of company stock valued at $31,358,687. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Evercore ISI raised their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Roth Mkm increased their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.69.

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.