Alphabet Inc. $GOOGL Holdings Lowered by Seelaus Asset Management LLC

Seelaus Asset Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,933 shares of the information services provider’s stock after selling 370 shares during the quarter. Alphabet makes up 2.3% of Seelaus Asset Management LLC’s portfolio, making the stock its 6th biggest holding. Seelaus Asset Management LLC’s holdings in Alphabet were worth $2,632,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Gimbal Financial lifted its holdings in shares of Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after buying an additional 53 shares in the last quarter. Missouri Trust & Investment Co grew its stake in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares in the last quarter. Silver Coast Investments LLC lifted its stake in Alphabet by 1.3% in the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its stake in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares in the last quarter. Finally, Bfsg LLC boosted its holdings in shares of Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.8%

Shares of GOOGL opened at $276.41 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 business has a fifty day moving average of $257.24 and a 200 day moving average of $208.59. The company has a market cap of $3.34 trillion, a PE ratio of 27.26, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $292.01.

Alphabet (NASDAQ:GOOGL) last announced 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 business had revenue of $102.35 billion for 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%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOOGL shares. CIBC lifted their target price on Alphabet to $315.00 in a report on Monday, October 20th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Westpark Capital increased their target price on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Cantor Fitzgerald raised their target price on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Oppenheimer upped their price target on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 221,796 shares of company stock worth $53,983,001 over the last 90 days. Company insiders own 11.55% of the company’s stock.

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.