Ring Mountain Capital LLC Cuts Stock Holdings in Alphabet Inc. $GOOGL

Ring Mountain Capital LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,012 shares of the information services provider’s stock after selling 609 shares during the period. Alphabet comprises approximately 3.4% of Ring Mountain Capital LLC’s holdings, making the stock its 9th largest holding. Ring Mountain Capital LLC’s holdings in Alphabet were worth $5,554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gimbal Financial lifted its stake in 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 acquiring an additional 53 shares during the period. Missouri Trust & Investment Co increased its position in Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the period. Silver Coast Investments LLC raised its holdings 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 raised its holdings 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 lifted its position in shares of Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GOOGL shares. Wolfe Research reiterated an “outperform” rating and set a $350.00 price target (up previously from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. UBS Group reiterated a “neutral” rating and set a $306.00 target price (up previously from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Sanford C. Bernstein increased their target price on Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Loop Capital lifted their price target on Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Finally, Truist Financial upped their price target on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $304.10.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 221,796 shares of company stock valued at $53,983,001. Insiders own 11.64% of the company’s stock.

Alphabet Stock Down 0.8%

GOOGL stock opened at $276.41 on Monday. The business has a 50 day moving average of $257.24 and a 200 day moving average of $209.28. The firm has a market cap of $3.34 trillion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $292.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Dividend Announcement

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

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.