Hiley Hunt Wealth Management Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Hiley Hunt Wealth Management trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,347 shares of the information services provider’s stock after selling 141 shares during the quarter. Hiley Hunt Wealth Management’s holdings in Alphabet were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after acquiring an additional 743,369 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares in the last quarter. Fisher Asset Management LLC lifted its position in Alphabet by 2.5% during the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOGL shares. Evercore ISI boosted their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. JMP Securities upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.69.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now directly owns 27,824 shares in the company, valued at $4,590,960. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,957 shares of company stock worth $31,358,687 over the last 90 days. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $191.41 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The stock has a 50 day moving average of $174.55 and a two-hundred day moving average of $171.33. The stock has a market cap of $2.34 trillion, a P/E ratio of 25.39, a P/E/G ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current 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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.