Alphabet Inc. $GOOGL Shares Sold by Hutchinson Capital Management CA

Hutchinson Capital Management CA lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,465 shares of the information services provider’s stock after selling 2,426 shares during the quarter. Alphabet makes up about 4.6% of Hutchinson Capital Management CA’s portfolio, making the stock its 5th biggest holding. Hutchinson Capital Management CA’s holdings in Alphabet were worth $25,107,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC grew its position in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $39,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $291.31 on Wednesday. The company’s 50 day simple moving average is $254.37 and its 200-day simple moving average is $206.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.92. The company has a market capitalization of $3.52 trillion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. BMO Capital Markets set a $294.00 target price on Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. Truist Financial upped their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Citizens Jmp lifted their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. HSBC boosted their target price on shares of Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Wells Fargo & Company raised their price target on shares of Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the transaction, the chief accounting officer owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 221,796 shares of company stock worth $53,983,001. 11.64% of the stock is owned by corporate insiders.

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.