Logan Capital Management Inc. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Logan Capital Management Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 151,131 shares of the information services provider’s stock after selling 2,901 shares during the quarter. Alphabet makes up about 1.0% of Logan Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. Logan Capital Management Inc.’s holdings in Alphabet were worth $25,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lantz Financial LLC increased its holdings in shares of Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after buying an additional 452 shares during the last quarter. Spectrum Wealth Advisory Group LLC acquired a new stake in Alphabet during the second quarter worth $218,000. ERn Financial LLC raised its position in Alphabet by 2.5% in the second quarter. ERn Financial LLC now owns 17,011 shares of the information services provider’s stock valued at $3,098,000 after purchasing an additional 416 shares during the period. Windmill Hill Asset Management Ltd lifted its stake in shares of Alphabet by 5.6% in the 2nd quarter. Windmill Hill Asset Management Ltd now owns 48,904 shares of the information services provider’s stock valued at $8,908,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Rockingstone Advisors LLC grew its holdings in shares of Alphabet by 1.7% during the 2nd quarter. Rockingstone Advisors LLC now owns 26,803 shares of the information services provider’s stock worth $4,882,000 after purchasing an additional 448 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the transaction, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This trade represents a 5.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,957 shares of company stock worth $31,358,687. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOOGL shares. Roth Mkm boosted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their price target on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $206.69.

Alphabet Stock Up 0.1 %

GOOGL stock opened at $188.51 on Friday. The stock has a market cap of $2.31 trillion, a P/E ratio of 25.00, a PEG ratio of 1.39 and a beta of 1.01. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The company’s 50 day moving average is $173.99 and its two-hundred day moving average is $171.21.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the business earned $1.55 EPS. Research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Alphabet Company 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.