Baxter Bros Inc. Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Baxter Bros Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 109,278 shares of the information services provider’s stock after selling 2,986 shares during the quarter. Alphabet accounts for approximately 2.4% of Baxter Bros Inc.’s holdings, making the stock its 12th largest holding. Baxter Bros Inc.’s holdings in Alphabet were worth $18,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its stake in shares of Alphabet by 1.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 1,839,604 shares of the information services provider’s stock worth $305,098,000 after purchasing an additional 33,405 shares during the period. Indie Asset Partners LLC grew its stake in Alphabet by 19.1% in the third quarter. Indie Asset Partners LLC now owns 5,775 shares of the information services provider’s stock worth $958,000 after purchasing an additional 926 shares in the last quarter. Prossimo Advisors LLC boosted its stake in Alphabet by 2.6% in the third quarter. Prossimo Advisors LLC now owns 28,978 shares of the information services provider’s stock valued at $4,806,000 after acquiring an additional 740 shares during the period. Royal Harbor Partners LLC boosted its stake in Alphabet by 1.6% in the third quarter. Royal Harbor Partners LLC now owns 18,881 shares of the information services provider’s stock valued at $3,131,000 after acquiring an additional 303 shares during the period. Finally, Conning Inc. raised its holdings in shares of Alphabet by 5.3% during the third quarter. Conning Inc. now owns 70,991 shares of the information services provider’s stock valued at $11,774,000 after buying an additional 3,560 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOGL. Piper Sandler reissued an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. UBS Group upped their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, KeyCorp upped their target price on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Down 1.8 %

GOOGL opened at $172.49 on Friday. The firm’s fifty day moving average is $165.18 and its two-hundred day moving average is $170.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.11 trillion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

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, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $1.55 earnings per share. Equities research analysts anticipate 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. Stockholders 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 (DPR) is presently 10.61%.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,471,141 in the last quarter. Company insiders own 11.55% of the company’s stock.

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.