Alphabet Inc. $GOOGL Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,033,242 shares of the information services provider’s stock after selling 234,924 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Alphabet were worth $1,239,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Gimbal Financial boosted its position in Alphabet by 1.9% during the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after purchasing an additional 53 shares in the last quarter. Missouri Trust & Investment Co increased its position in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after buying an additional 55 shares in the last quarter. Silver Coast Investments LLC lifted its position in shares of Alphabet by 1.3% during the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after buying an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its position in shares of Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after buying an additional 57 shares in the last quarter. Finally, Bfsg LLC grew its stake in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. Susquehanna upped their price objective on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, October 30th. Oppenheimer lifted their target price on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. JMP Securities restated a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a research report on Wednesday, October 22nd. Melius Research raised their price target on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $308.73.

Alphabet Stock Down 1.8%

Shares of NASDAQ GOOGL opened at $314.49 on Tuesday. The stock has a market cap of $3.79 trillion, a PE ratio of 31.01, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The company has a 50-day moving average of $270.48 and a 200 day moving average of $220.62.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, sell-side analysts predict 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. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the transaction, the chief accounting officer directly owned 11,739 shares in the company, valued at $3,383,884.14. This trade represents a 19.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 225,072 shares of company stock valued at $58,074,027 in the last quarter. Corporate insiders own 11.64% of the company’s stock.

About Alphabet

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.