Rehmann Capital Advisory Group Has $5.22 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Rehmann Capital Advisory Group lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,412 shares of the information services provider’s stock after selling 1,397 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Alphabet were worth $5,218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Schear Investment Advisers LLC boosted its position in shares of Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC boosted its holdings in Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. grew its stake in shares of Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares in the last quarter. abrdn plc raised its holdings in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its position in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Robert W. Baird restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.69.

Alphabet Price Performance

Alphabet stock opened at $188.40 on Thursday. The stock has a market cap of $2.31 trillion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.39 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $173.46 and a 200 day simple moving average of $171.09. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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. The company had revenue of $88.27 billion during 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 quarter in the previous year, the firm earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,957 shares of company stock worth $31,358,687. 11.55% of the stock is currently owned by corporate insiders.

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.