Alphabet Inc. $GOOGL Shares Sold by Princeton Capital Management LLC

Princeton Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,177 shares of the information services provider’s stock after selling 5,236 shares during the quarter. Alphabet comprises 4.7% of Princeton Capital Management LLC’s holdings, making the stock its 6th largest holding. Princeton Capital Management LLC’s holdings in Alphabet were worth $15,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in GOOGL. Bryn Mawr Trust Advisors LLC raised its holdings in Alphabet by 2.1% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 187,619 shares of the information services provider’s stock worth $33,064,000 after purchasing an additional 3,804 shares during the last quarter. Smart Money Group LLC increased its position in shares of Alphabet by 7.5% during the second quarter. Smart Money Group LLC now owns 6,644 shares of the information services provider’s stock worth $1,171,000 after buying an additional 463 shares during the period. Sustainable Insight Capital Management LLC raised its stake in Alphabet by 459.7% during the second quarter. Sustainable Insight Capital Management LLC now owns 19,702 shares of the information services provider’s stock worth $3,472,000 after buying an additional 16,182 shares during the last quarter. Paulson Wealth Management Inc. lifted its holdings in Alphabet by 82.7% in the second quarter. Paulson Wealth Management Inc. now owns 7,727 shares of the information services provider’s stock valued at $1,362,000 after buying an additional 3,498 shares during the period. Finally, Atlas Legacy Advisors LLC boosted its position in Alphabet by 21.1% during the second quarter. Atlas Legacy Advisors LLC now owns 7,374 shares of the information services provider’s stock valued at $1,300,000 after acquiring an additional 1,285 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. DZ Bank reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Morgan Stanley boosted their price target on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Roth Capital increased their price target on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $305.33.

Alphabet Stock Performance

NASDAQ GOOGL opened at $292.81 on Thursday. The company has a market cap of $3.53 trillion, a P/E ratio of 28.88, a PEG ratio of 1.86 and a beta of 1.05. The company has a fifty day simple moving average of $260.23 and a 200 day simple moving average of $211.57. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $303.81.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 192,674 shares of company stock worth $48,454,423 over the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

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.