Soros Fund Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 43.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 517,890 shares of the information services provider's stock after selling 397,052 shares during the quarter. Alphabet makes up about 1.2% of Soros Fund Management LLC's portfolio, making the stock its 20th largest position. Soros Fund Management LLC's holdings in Alphabet were worth $85,892,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. State Street Corp grew its position in Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Stevens Capital Management LP increased its holdings in shares of Alphabet by 287.7% in the third quarter. Stevens Capital Management LP now owns 104,085 shares of the information services provider's stock worth $17,262,000 after buying an additional 77,235 shares during the period. Sassicaia Capital Advisers LLC bought a new stake in Alphabet in the 3rd quarter worth $315,000. Quantinno Capital Management LP lifted its holdings in Alphabet by 22.8% in the 3rd quarter. Quantinno Capital Management LP now owns 639,077 shares of the information services provider's stock worth $105,991,000 after buying an additional 118,857 shares during the period. Finally, Miller Investment Management LP boosted its stake in shares of Alphabet by 17.2% during the 3rd quarter. Miller Investment Management LP now owns 87,093 shares of the information services provider's stock valued at $14,444,000 after purchasing an additional 12,804 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on GOOGL. Sanford C. Bernstein lifted their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. Morgan Stanley boosted their price target on Alphabet from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Roth Mkm upped their price objective on Alphabet from $206.00 to $212.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Evercore ISI lifted their target price on Alphabet from $200.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $206.08.
Read Our Latest Stock Analysis on Alphabet
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,623 shares of company stock valued at $34,413,006. Corporate insiders own 11.55% of the company's stock.
Alphabet Stock Down 1.1 %
Alphabet stock traded down $2.14 during mid-day trading on Friday, reaching $189.82. 25,143,495 shares of the company were exchanged, compared to its average volume of 27,397,740. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.32 trillion, a P/E ratio of 25.18, a PEG ratio of 1.39 and a beta of 1.01. The business has a fifty day moving average of $171.63 and a 200 day moving average of $170.67. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $195.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the company earned $1.55 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.
About Alphabet
(
Free Report)
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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