BluePath Capital Management LLC Sells 114 Shares of Alphabet Inc. (NASDAQ:GOOGL)

BluePath Capital Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,119 shares of the information services provider’s stock after selling 114 shares during the quarter. BluePath Capital Management LLC’s holdings in Alphabet were worth $517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares during the period. Capital Research Global Investors grew its position in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the period. Capital World Investors lifted its position in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,471,141 over the last 90 days. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on GOOGL shares. Royal Bank of Canada lifted their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Trading Down 1.8 %

Shares of NASDAQ GOOGL opened at $175.58 on Friday. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week 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 firm has a market capitalization of $2.15 trillion, a P/E ratio of 23.29, a P/E/G ratio of 1.29 and a beta of 1.03. The company’s 50 day simple moving average is $164.82 and its 200 day simple moving average is $170.04.

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

Alphabet Announces Dividend

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

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.