Alphabet Inc. (NASDAQ:GOOGL) is Ingalls & Snyder LLC's 8th Largest Position

Ingalls & Snyder LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,552 shares of the information services provider's stock after selling 4,471 shares during the period. Alphabet makes up about 2.1% of Ingalls & Snyder LLC's investment portfolio, making the stock its 8th biggest position. Ingalls & Snyder LLC's holdings in Alphabet were worth $52,666,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. LMR Partners LLP purchased a new stake in Alphabet in the 3rd quarter valued at approximately $32,000. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter valued at $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter worth $41,000. Finally, Quarry LP purchased a new position in Alphabet during the second quarter worth $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares of the company's stock, valued at $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, the director now directly owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 198,623 shares of company stock worth $34,413,006. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Down 1.1 %

Alphabet stock traded down $2.14 during midday trading on Friday, hitting $189.82. 25,143,495 shares of the stock were exchanged, compared to its average volume of 27,397,740. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a 50 day moving average price of $171.63 and a two-hundred day moving average price of $170.67. The firm has a market cap of $2.32 trillion, a P/E ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $195.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company earned $1.55 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's payout ratio is 10.61%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GOOGL shares. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 price objective on the stock. BMO Capital Markets restated an "outperform" rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet 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. Truist Financial boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.08.

View Our Latest Research Report on Alphabet

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.

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