Moody Aldrich Partners LLC Sells 1,072 Shares of Alphabet Inc. $GOOGL

Moody Aldrich Partners LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 41.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,499 shares of the information services provider’s stock after selling 1,072 shares during the period. Moody Aldrich Partners LLC’s holdings in Alphabet were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GOOGL. Gimbal Financial raised its position in shares of Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after purchasing an additional 53 shares during the period. Missouri Trust & Investment Co grew its stake in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after buying an additional 55 shares during the last quarter. Silver Coast Investments LLC grew its stake in Alphabet by 1.3% in the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after buying an additional 55 shares during the last quarter. AM Investment Strategies LLC raised its holdings in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after acquiring an additional 57 shares during the period. Finally, Bfsg LLC lifted its position in Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $291.31 on Wednesday. The stock’s 50 day simple moving average is $254.37 and its 200-day simple moving average is $206.73. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.52 trillion, a PE ratio of 28.73, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.92.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the sale, the chief accounting officer owned 14,517 shares of the company’s stock, valued at $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 221,796 shares of company stock worth $53,983,001 in the last 90 days. 11.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised their price target on Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Melius Research lifted their price target on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Roth Capital upped 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, CIBC raised their price objective on shares of Alphabet to $315.00 in a research note on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $304.10.

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.