Alphabet Inc. $GOOGL Position Lessened by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,077 shares of the information services provider's stock after selling 6,237 shares during the period. Clear Creek Financial Management LLC's holdings in Alphabet were worth $2,833,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mystic Asset Management Inc. lifted its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co increased its position in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares during the period. Cypress Capital LLC increased its position in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after acquiring an additional 563 shares during the period. Bridgeway Capital Management LLC increased its position in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after acquiring an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC increased its position in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after acquiring an additional 84 shares during the period. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stifel Nicolaus raised their target price on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein raised their target price on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada raised their target price on Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. HSBC assumed coverage on Alphabet in a research report on Tuesday, October 7th. They issued a "buy" rating and a $285.00 target price on the stock. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $288.00 target price on shares of Alphabet in a research report on Tuesday. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $252.24.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $253.30 on Friday. 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 has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.70 and a beta of 1.00. The stock's fifty day simple moving average is $231.55 and its 200 day simple moving average is $191.61. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.96.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 103 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company's stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company's stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 over the last quarter. 11.64% of the stock is owned by insiders.

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.

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