Transamerica Financial Advisors Inc. Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Transamerica Financial Advisors Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,276 shares of the information services provider’s stock after selling 2,351 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Alphabet were worth $5,353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Hampshire Trust increased its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Schear Investment Advisers LLC boosted its position in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC grew its stake in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares during the period. abrdn plc increased its position in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its stake in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Roth Mkm boosted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. KeyCorp lifted their target price on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven equities research 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. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,789 shares of company stock worth $27,374,143 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $175.37 on Tuesday. The stock has a 50 day moving average price of $169.70 and a 200-day moving average price of $170.21. Alphabet Inc. has a one year low of $129.68 and a one year high of $191.75. The stock has a market cap of $2.15 trillion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

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