Alphabet Inc. $GOOGL Shares Sold by Choreo LLC

Choreo LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 236,123 shares of the information services provider’s stock after selling 1,776 shares during the quarter. Choreo LLC’s holdings in Alphabet were worth $41,612,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Northwest & Ethical Investments L.P. raised its holdings in Alphabet by 32.0% in the second quarter. Northwest & Ethical Investments L.P. now owns 158,630 shares of the information services provider’s stock valued at $27,989,000 after acquiring an additional 38,498 shares in the last quarter. Himension Capital Singapore PTE. LTD. increased its position in shares of Alphabet by 27.8% in the 2nd quarter. Himension Capital Singapore PTE. LTD. now owns 113,125 shares of the information services provider’s stock valued at $19,936,000 after purchasing an additional 24,617 shares during the last quarter. Maia Wealth LLC raised its holdings in shares of Alphabet by 3.6% in the 2nd quarter. Maia Wealth LLC now owns 34,527 shares of the information services provider’s stock valued at $6,085,000 after purchasing an additional 1,209 shares in the last quarter. Silphium Asset Management Ltd lifted its position in shares of Alphabet by 11.2% during the 2nd quarter. Silphium Asset Management Ltd now owns 24,400 shares of the information services provider’s stock worth $4,300,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Boxwood Ventures Inc. grew its stake in shares of Alphabet by 9.5% during the second quarter. Boxwood Ventures Inc. now owns 26,888 shares of the information services provider’s stock worth $4,738,000 after purchasing an additional 2,343 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of a number of analyst reports. The Goldman Sachs Group raised their price target on Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. HSBC raised their target price on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. CIBC upped their price target on Alphabet to $315.00 in a report on Monday, October 20th. Jefferies Financial Group increased their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Truist Financial set a $350.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $312.65.

Alphabet Stock Performance

Shares of Alphabet stock opened at $321.27 on Friday. The firm’s fifty day simple moving average is $276.15 and its 200-day simple moving average is $224.51. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The stock has a market capitalization of $3.88 trillion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current 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 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total value of $10,383,750.00. Following the transaction, the chief executive officer directly owned 2,272,119 shares in the company, valued at approximately $725,942,020.50. This trade represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 102 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $317.66, for a total value of $32,401.32. Following the sale, the director owned 18,104 shares of the company’s stock, valued at $5,750,916.64. This trade represents a 0.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 226,128 shares of company stock valued at $61,326,372 over the last 90 days. 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.