Intellectus Partners LLC Has $4.45 Million Position in Alphabet Inc. $GOOGL

Intellectus Partners LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,248 shares of the information services provider’s stock after selling 443 shares during the quarter. Alphabet makes up 1.0% of Intellectus Partners LLC’s portfolio, making the stock its 18th largest position. Intellectus Partners LLC’s holdings in Alphabet were worth $4,449,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gimbal Financial grew its stake in Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after purchasing an additional 53 shares in the last quarter. Missouri Trust & Investment Co boosted its holdings in shares of Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after buying an additional 55 shares during the last quarter. Silver Coast Investments LLC boosted its holdings in shares of Alphabet by 1.3% in the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after buying an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its stake in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after buying an additional 57 shares in the last quarter. Finally, Bfsg LLC increased its holdings in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after buying an additional 59 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.8%

Shares of NASDAQ:GOOGL opened at $276.41 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $292.01. The business has a 50 day moving average of $257.24 and a 200-day moving average of $208.59. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.34 trillion, a PE ratio of 27.26, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were 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 approximately $10,635,348.70. This trade represents 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 through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 221,796 shares of company stock worth $53,983,001. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOGL. CICC Research increased their price target on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. DA Davidson boosted their price target on Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Citizens Jmp raised their price objective on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $304.10.

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.