Dynamic Technology Lab Private Ltd Sells 232 Shares of Alphabet Inc. $GOOGL

Dynamic Technology Lab Private Ltd lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,074 shares of the information services provider’s stock after selling 232 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Alphabet were worth $1,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bridgeway Capital Management LLC lifted its holdings in shares of Alphabet by 17.9% during the first 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 in the last quarter. Alaethes Wealth LLC increased its position in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares during the period. Moment Partners LLC raised its stake in Alphabet by 9.3% in the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after purchasing an additional 504 shares in the last quarter. Welch Group LLC boosted its holdings in Alphabet by 4.0% in the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after purchasing an additional 2,467 shares during the period. Finally, Elgethun Capital Management grew its position in shares of Alphabet by 4.8% during the 1st quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock worth $1,312,000 after purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,304,619 shares in the company, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 225,072 shares of company stock worth $58,074,027. Corporate insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Truist Financial lifted their price objective on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Citigroup reiterated a “buy” rating and set a $343.00 target price (up from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. President Capital increased their target price on Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $375.00 price target (up previously from $330.00) on shares of Alphabet in a research note on Monday. Four 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $308.73.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $314.49 on Tuesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s 50-day simple moving average is $270.48 and its 200 day simple moving average is $220.62. The firm has a market capitalization of $3.79 trillion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

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

Alphabet Dividend Announcement

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