Alphabet Inc. (NASDAQ:GOOGL) is Diamant Asset Management Inc.’s 6th Largest Position

Diamant Asset Management Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the 3rd quarter, Holdings Channel reports. The firm owned 41,004 shares of the information services provider’s stock after selling 70 shares during the quarter. Alphabet accounts for approximately 4.3% of Diamant Asset Management Inc.’s portfolio, making the stock its 6th largest position. Diamant Asset Management Inc.’s holdings in Alphabet were worth $6,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. SOA Wealth Advisors LLC. boosted its holdings in Alphabet by 0.5% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider’s stock valued at $6,199,000 after purchasing an additional 202 shares during the period. Passumpsic Savings Bank boosted its position in shares of Alphabet by 38.0% during the 3rd quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider’s stock valued at $779,000 after acquiring an additional 1,294 shares during the last quarter. Discipline Wealth Solutions LLC purchased a new position in shares of Alphabet during the third quarter worth about $630,000. Unigestion Holding SA increased its position in shares of Alphabet by 550.1% in the third quarter. Unigestion Holding SA now owns 92,199 shares of the information services provider’s stock worth $15,291,000 after purchasing an additional 78,017 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its stake in Alphabet by 25.3% in the third quarter. Hohimer Wealth Management LLC now owns 43,897 shares of the information services provider’s stock valued at $7,280,000 after purchasing an additional 8,851 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Wedbush reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $206.69.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the 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 owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,957 shares of company stock valued at $31,358,687 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 3.6 %

GOOGL stock opened at $188.40 on Thursday. The company has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50 day moving average price is $173.46 and its two-hundred day moving average price is $171.09. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during 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 quarter last year, the firm posted $1.55 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date 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%.

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.