Alphabet Inc. $GOOGL Shares Sold by Covey Capital Advisors LLC

Covey Capital Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,718 shares of the information services provider’s stock after selling 1,080 shares during the quarter. Alphabet comprises approximately 4.3% of Covey Capital Advisors LLC’s portfolio, making the stock its 7th largest holding. Covey Capital Advisors LLC’s holdings in Alphabet were worth $4,003,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mystic Asset Management Inc. raised its stake in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after buying an additional 13,371 shares during the last quarter. Alaethes Wealth LLC increased its holdings in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares during the last quarter. Moment Partners LLC raised its position in shares of Alphabet by 9.3% during the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares during the period. Finally, Blackhawk Capital Partners LLC. lifted its holdings in Alphabet by 8.4% in the first quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock valued at $4,832,000 after acquiring an additional 2,434 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 221,796 shares of company stock worth $53,983,001. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.4%

NASDAQ GOOGL opened at $291.31 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.52 trillion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.86 and a beta of 1.05. The firm has a 50 day simple moving average of $254.37 and a 200-day simple moving average of $206.73. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.92.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. Stifel Nicolaus set a $333.00 target price on Alphabet in a research note on Thursday, October 30th. BNP Paribas Exane upped their price target on Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Wedbush reissued an “outperform” rating and set a $320.00 price objective (up from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $304.10.

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.