Index Fund Advisors Inc. Sells 75 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Index Fund Advisors Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,599 shares of the information services provider’s stock after selling 75 shares during the period. Index Fund Advisors Inc.’s holdings in Alphabet were worth $597,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its stake in 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. Kings Path Partners LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter worth $41,000. Quarry LP purchased a new stake in Alphabet in the 2nd quarter worth about $53,000. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $169.24 on Tuesday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The firm has a market cap of $2.08 trillion, a P/E ratio of 22.45, a P/E/G ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $162.49 and a 200-day moving average of $169.20.

Alphabet (NASDAQ:GOOGL) last issued 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 return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company earned $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.91 EPS for the current year.

Alphabet Dividend Announcement

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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,052 shares of company stock worth $38,086,723 over the last three months. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GOOGL shares. Jefferies Financial Group boosted their price target on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Pivotal Research boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Sanford C. Bernstein increased their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Evercore ISI lifted their target price on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.51.

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.