GG Group Ventures LLC Sells 1,589 Shares of Alphabet Inc. (NASDAQ:GOOGL)

GG Group Ventures LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,140 shares of the information services provider’s stock after selling 1,589 shares during the quarter. Alphabet comprises 1.3% of GG Group Ventures LLC’s investment portfolio, making the stock its 17th largest holding. GG Group Ventures LLC’s holdings in Alphabet were worth $902,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Christopher J. Hasenberg Inc raised its stake 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 in the last quarter. LMR Partners LLP acquired a new position in shares of Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at about $41,000. Finally, Quarry LP bought a new stake in Alphabet in the second quarter valued at about $53,000. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Roth Mkm boosted their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, KeyCorp increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seven investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.08.

Alphabet Price Performance

Alphabet stock opened at $195.42 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.39 trillion, a P/E ratio of 25.92, a PEG ratio of 1.39 and a beta of 1.01. The business has a 50-day moving average of $172.93 and a 200-day moving average of $170.97. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the firm earned $1.55 EPS. On average, equities analysts anticipate 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. Investors of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total value of $247,425.00. Following the transaction, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,957 shares of company stock valued at $31,358,687. 11.55% of the stock is owned by company 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.