Means Investment CO. Inc. Sells 1,670 Shares of Alphabet Inc. $GOOGL

Means Investment CO. Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,630 shares of the information services provider’s stock after selling 1,670 shares during the period. Means Investment CO. Inc.’s holdings in Alphabet were worth $4,529,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GOOGL. Hopwood Financial Services Inc. boosted its holdings in Alphabet by 5.3% in the 3rd quarter. Hopwood Financial Services Inc. now owns 5,393 shares of the information services provider’s stock valued at $1,311,000 after purchasing an additional 270 shares during the period. Centerpoint Advisors LLC increased its holdings in shares of Alphabet by 2.4% during the 3rd quarter. Centerpoint Advisors LLC now owns 20,309 shares of the information services provider’s stock worth $4,937,000 after purchasing an additional 472 shares during the period. AlTi Global Inc. raised its position in shares of Alphabet by 1.6% during the third quarter. AlTi Global Inc. now owns 256,617 shares of the information services provider’s stock valued at $62,383,000 after buying an additional 3,984 shares during the last quarter. Continental Investors Services Inc. lifted its stake in shares of Alphabet by 4.8% in the third quarter. Continental Investors Services Inc. now owns 5,198 shares of the information services provider’s stock valued at $1,325,000 after buying an additional 236 shares during the period. Finally, Prospera Financial Services Inc grew its position in Alphabet by 4.6% during the third quarter. Prospera Financial Services Inc now owns 248,959 shares of the information services provider’s stock worth $60,539,000 after buying an additional 10,855 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $306.73, for a total transaction of $184,038.00. Following the sale, the director owned 20,624 shares in the company, valued at approximately $6,325,999.52. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $303.92, for a total value of $9,877,400.00. Following the completion of the sale, the chief executive officer owned 2,818,524 shares of the company’s stock, valued at approximately $856,605,814.08. This trade represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,112,482 shares of company stock worth $119,145,289. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Down 1.1%

GOOGL opened at $311.49 on Tuesday. The firm has a market cap of $3.77 trillion, a price-to-earnings ratio of 28.82, a PEG ratio of 1.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The firm’s 50-day simple moving average is $320.38 and its 200-day simple moving average is $280.27. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $349.00.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.25. The firm had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, March 9th. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Wall Street Analyst Weigh In

Several research firms have commented on GOOGL. CICC Research upped their price target on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. DA Davidson boosted their price objective on Alphabet from $300.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Wolfe Research upped their target price on Alphabet from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Moffett Nathanson lifted their price target on shares of Alphabet from $305.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, UBS Group set a $348.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $366.57.

View Our Latest Analysis on GOOGL

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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