GG Group Ventures LLC Has $902,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

GG Group Ventures LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.6% in the third quarter, HoldingsChannel reports. The fund owned 5,140 shares of the information services provider’s stock after selling 1,589 shares during the period. Alphabet makes up 1.3% of GG Group Ventures LLC’s portfolio, making the stock its 17th largest position. GG Group Ventures LLC’s holdings in Alphabet were worth $902,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in shares of Alphabet in the second quarter valued at $53,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. 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. Bank of America raised their target price on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JMP Securities boosted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Morgan Stanley boosted their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Seven investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now directly owns 23,324 shares in the company, valued at $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,957 shares of company stock valued at $31,358,687. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.6 %

GOOGL opened at $195.42 on Wednesday. The company’s 50 day moving average is $172.93 and its 200-day moving average is $170.97. The company has a market cap of $2.39 trillion, a P/E ratio of 25.92, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. 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 (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company 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 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 payout ratio is 10.61%.

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.