Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,700 shares of the information services provider’s stock after selling 4,100 shares during the quarter. Alphabet makes up approximately 1.4% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 23rd biggest position. Zweig DiMenna Associates LLC’s holdings in Alphabet were worth $13,550,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. New Hampshire Trust lifted its stake in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. purchased a new stake in Alphabet in the first quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP lifted its stake in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares during the last quarter. Trinity Financial Advisors LLC lifted its stake in Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its stake in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $169.74 on Wednesday. The firm has a market capitalization of $2.09 trillion, a P/E ratio of 22.51, a P/E/G ratio of 1.22 and a beta of 1.03. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50-day simple moving average is $162.59 and its 200-day simple moving average is $169.31.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for 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 period in the previous year, the company posted $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet 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 sale, the director now owns 16,490 shares in the company, valued at $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 have sold 209,552 shares of company stock valued at $34,433,848 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Evercore ISI boosted 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. Jefferies Financial Group upped their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Sanford C. Bernstein upped 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. Roth Mkm upped their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.51.

Alphabet Company 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.