Geneva Partners LLC Has $10.47 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Geneva Partners LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,126 shares of the information services provider’s stock after selling 5,964 shares during the period. Alphabet accounts for approximately 4.5% of Geneva Partners LLC’s investment portfolio, making the stock its 6th biggest position. Geneva Partners LLC’s holdings in Alphabet were worth $10,469,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Capital Management Corp VA grew its holdings in Alphabet by 11.2% during the 3rd quarter. Capital Management Corp VA now owns 42,676 shares of the information services provider’s stock worth $7,078,000 after acquiring an additional 4,291 shares during the period. Clarity Financial LLC grew its holdings in Alphabet by 2.4% during the 3rd quarter. Clarity Financial LLC now owns 5,678 shares of the information services provider’s stock worth $942,000 after acquiring an additional 133 shares during the period. Amalgamated Bank grew its holdings in Alphabet by 1.0% during the 3rd quarter. Amalgamated Bank now owns 1,274,850 shares of the information services provider’s stock worth $211,434,000 after acquiring an additional 13,050 shares during the period. United Advisor Group LLC grew its holdings in Alphabet by 150.2% during the 3rd quarter. United Advisor Group LLC now owns 34,908 shares of the information services provider’s stock worth $5,790,000 after acquiring an additional 20,955 shares during the period. Finally, Stoneridge Investment Partners LLC grew its holdings in Alphabet by 9.6% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 37,511 shares of the information services provider’s stock worth $6,221,000 after acquiring an additional 3,300 shares during the period. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Truist Financial increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Bank of America raised their target price on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven research 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. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Price Performance

Alphabet stock opened at $172.49 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.23 and a beta of 1.03. The company’s 50 day moving average price is $165.61 and its two-hundred day moving average price is $170.22. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The trade was a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is owned by company insiders.

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.