Highview Capital Management LLC DE Lowers Position in Alphabet Inc. $GOOGL

Highview Capital Management LLC DE lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 21.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,962 shares of the information services provider’s stock after selling 6,810 shares during the quarter. Alphabet makes up about 1.7% of Highview Capital Management LLC DE’s holdings, making the stock its 16th largest position. Highview Capital Management LLC DE’s holdings in Alphabet were worth $4,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock worth $91,033,300,000 after acquiring an additional 6,733,278 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 3.1% during the second quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after purchasing an additional 4,224,497 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Invesco Ltd. grew its position in Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after buying an additional 727,335 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 225,072 shares of company stock worth $58,074,027. 11.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Susquehanna boosted their target price on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a report on Wednesday, October 22nd. Roth Capital upped their price objective on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Needham & Company LLC raised their target price on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group boosted their price target on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $307.84.

Alphabet Trading Up 0.0%

Shares of GOOGL stock opened at $320.02 on Monday. The stock has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.86 and a beta of 1.05. The company’s fifty day simple moving average is $269.25 and its two-hundred day simple moving average is $219.56. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

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.