Alphabet Inc. $GOOGL Stock Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp. cut its Alphabet stake by 17.5% in the third quarter, selling 142,555 shares and retaining 669,871 shares valued at about $230.5 million.
• Analyst sentiment remains positive: Alphabet has a consensus Buy rating and an average price target of $412.51, based on MarketBeat data.
• Alphabet reported quarterly EPS of $2.12, below the $3.02 consensus estimate, while revenue of $127.58 billion also fell slightly short of expectations.

Boston Trust Walden Corp trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 669,871 shares of the information services provider's stock after selling 142,555 shares during the quarter. Alphabet comprises about 1.9% of Boston Trust Walden Corp's holdings, making the stock its 5th largest position. Boston Trust Walden Corp's holdings in Alphabet were worth $230,489,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Sageworth Trust Co grew its holdings in shares of Alphabet by 35.0% during the 3rd quarter. Sageworth Trust Co now owns 1,542 shares of the information services provider's stock valued at $531,000 after purchasing an additional 400 shares during the last quarter. Smallwood Wealth Investment Management LLC grew its stake in shares of Alphabet by 441.4% during the third quarter. Smallwood Wealth Investment Management LLC now owns 4,039 shares of the information services provider's stock valued at $1,390,000 after buying an additional 3,293 shares during the last quarter. Verity Asset Management Inc. increased its holdings in shares of Alphabet by 15.0% in the third quarter. Verity Asset Management Inc. now owns 1,316 shares of the information services provider's stock worth $453,000 after buying an additional 172 shares during the period. Ascent Group LLC lifted its stake in shares of Alphabet by 1.4% in the 3rd quarter. Ascent Group LLC now owns 155,913 shares of the information services provider's stock valued at $53,646,000 after acquiring an additional 2,121 shares during the last quarter. Finally, JCIC Asset Management Inc. boosted its holdings in Alphabet by 9.6% during the 3rd quarter. JCIC Asset Management Inc. now owns 1,145 shares of the information services provider's stock valued at $394,000 after acquiring an additional 100 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $385.00 price objective on shares of Alphabet in a research report on Thursday, October 29th. Yorkville Ives started coverage on shares of Alphabet in a report on Monday, October 5th. They set an "outperform" rating and a $400.00 price target for the company. Guggenheim reissued a "buy" rating and issued a $450.00 price target on shares of Alphabet in a report on Thursday, October 29th. Freedom Capital upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $480.00 price objective (up from $465.00) on shares of Alphabet in a research note on Tuesday, October 20th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and an average target price of $412.51.

Alphabet Stock Up 1.8%

Shares of NASDAQ GOOGL opened at $298.70 on Friday. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. Alphabet Inc. has a 12 month low of $270.70 and a 12 month high of $408.61. The firm has a market capitalization of $3.67 trillion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.88 and a beta of 1.23. The firm has a fifty day simple moving average of $329.12 and a two-hundred day simple moving average of $338.21.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, October 28th. The information services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $3.02 by ($0.90). The company had revenue of $127.58 billion during the quarter, compared to analysts' expectations of $127.96 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. Equities analysts expect that Alphabet Inc. will post 19.81 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be issued a $0.22 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 4.59%.

Alphabet News Summary

Here's some of the latest news about GOOGL:

• Positive Sentiment: Nvidia CEO Jensen Huang’s reported departure has put a spotlight on alternatives to Nvidia. Alphabet’s expanding TPU business could help it compete for AI workloads and gain market share, while its Google Cloud infrastructure also uses AMD processors. Why Alphabet Stock Was Moving Higher Today
• Positive Sentiment: An economist cited Alphabet’s search distribution, advertising business and ability to generate cash as reasons it may be well-positioned despite the AI sell-off. The view supports the case that established customer reach can help the company monetize AI. Is It Too Late to Buy the Dip? 3 Corners of the Market Still Offering Real Value
• Neutral Sentiment: Alphabet is reportedly planning its first Hong Kong- and Singapore-dollar bond sale. The deal could diversify its funding, though investors may also watch how borrowing fits with already elevated AI infrastructure spending. Alphabet Eyes Bond Sales

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the sale, the director directly owned 19,076 shares of the company's stock, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 247 shares of company stock valued at $79,238 in the last ninety days. Company insiders own 11.61% of the company's stock.

Alphabet Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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