Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,028 shares of the information services provider’s stock after selling 123 shares during the quarter. Alphabet makes up 0.2% of Cable Hill Partners LLC’s portfolio, making the stock its 27th biggest position. Cable Hill Partners LLC’s holdings in Alphabet were worth $1,995,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOGL. China Universal Asset Management Co. Ltd. lifted its stake in shares of Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after acquiring an additional 41,880 shares in the last quarter. Quent Capital LLC lifted its stake in shares of Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after acquiring an additional 1,072 shares in the last quarter. Napean Trading & Investment Co Singapore PTE Ltd raised its stake in Alphabet by 19.7% during the first quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 135,878 shares of the information services provider’s stock valued at $20,508,000 after buying an additional 22,339 shares in the last quarter. Capital Group Investment Management PTE. LTD. raised its stake in Alphabet by 8.6% during the first quarter. Capital Group Investment Management PTE. LTD. now owns 45,997 shares of the information services provider’s stock valued at $6,942,000 after buying an additional 3,639 shares in the last quarter. Finally, Capital International Inc. CA raised its stake in Alphabet by 3.4% during the first quarter. Capital International Inc. CA now owns 402,953 shares of the information services provider’s stock valued at $60,818,000 after buying an additional 13,425 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $169.23 on Thursday. The firm has a market cap of $2.07 trillion, a PE ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03. 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 business has a fifty day simple moving average of $168.22 and a 200-day simple moving average of $170.34. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75.

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, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during 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 last year, the company posted $1.55 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 0.47%. Alphabet’s payout ratio is currently 10.61%.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GOOGL shares. Royal Bank of Canada upped their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Tigress Financial upped their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Sanford C. Bernstein upped their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven equities 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet 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.