Alphabet Inc. (NASDAQ:GOOGL) Position Lowered by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,519 shares of the information services provider’s stock after selling 788 shares during the period. Alphabet accounts for about 1.7% of Raab & Moskowitz Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Raab & Moskowitz Asset Management LLC’s holdings in Alphabet were worth $6,554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hengehold Capital Management LLC lifted its position in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the 2nd 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 period. First PREMIER Bank raised its stake in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the period. Cutler Investment Counsel LLC lifted its holdings in Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after purchasing an additional 61 shares in the last quarter. Finally, MKT Advisors LLC boosted its stake in Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,623 shares of company stock valued at $34,413,006. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

GOOGL opened at $196.66 on Tuesday. The stock’s 50 day moving average price is $172.31 and its 200-day moving average price is $170.80. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $199.00. The stock has a market capitalization of $2.41 trillion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

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 business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business earned $1.55 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s payout ratio is 10.61%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. Royal Bank of Canada upped their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, October 24th. Truist Financial boosted their price target 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. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.08.

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.