Alphabet Inc. $GOOGL Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 311,820 shares of the information services provider’s stock after selling 2,481 shares during the period. Alphabet makes up approximately 2.5% of Ingalls & Snyder LLC’s portfolio, making the stock its 8th biggest position. Ingalls & Snyder LLC’s holdings in Alphabet were worth $75,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $31,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Alphabet during the third quarter worth $53,000. Corsicana & Co. acquired a new stake in shares of Alphabet in the third quarter valued at $54,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after buying an additional 89 shares during the period. Finally, S&T Bank PA raised its holdings in shares of Alphabet by 40.2% in the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $303.58 on Wednesday. The firm has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.79 and a beta of 1.10. The firm’s fifty day simple moving average is $320.71 and its 200-day simple moving average is $284.77. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $349.00. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The firm had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, March 9th. Alphabet’s dividend payout ratio (DPR) is 7.77%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 47,574 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total value of $14,341,182.30. Following the completion of the transaction, the insider directly owned 13,227 shares of the company’s stock, valued at $3,987,279.15. This represents a 78.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $19.00, for a total transaction of $35,060,852.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,078,926 shares of company stock worth $108,426,720. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. Daiwa Securities Group lifted their target price on Alphabet from $333.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. DA Davidson raised their price objective on shares of Alphabet from $300.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $365.00 to $400.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $395.00 price target (up from $346.00) on shares of Alphabet in a research report on Thursday, February 5th. Finally, Canaccord Genuity Group set a $415.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.57.

View Our Latest Research Report on GOOGL

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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