Westside Investment Management Inc. Sells 212 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Westside Investment Management Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,560 shares of the information services provider’s stock after selling 212 shares during the quarter. Alphabet comprises approximately 1.5% of Westside Investment Management Inc.’s portfolio, making the stock its 13th biggest holding. Westside Investment Management Inc.’s holdings in Alphabet were worth $7,081,000 as of its most recent SEC filing.

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

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 700 shares of the 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 sale, the director now directly owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 178,957 shares of company stock valued at $31,358,687 in the last three months. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $188.40 on Thursday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The stock has a market cap of $2.31 trillion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.39 and a beta of 1.01. The stock’s 50 day simple moving average is $173.46 and its two-hundred day simple moving average is $171.09. 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 released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s payout ratio is 10.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up from $200.00) 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. Evercore ISI boosted their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $206.69.

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.