Rovida Advisors Inc. Sells 50,000 Shares of Alphabet Inc. $GOOGL

Rovida Advisors Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 38.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,000 shares of the information services provider’s stock after selling 50,000 shares during the period. Alphabet makes up about 2.2% of Rovida Advisors Inc.’s investment portfolio, making the stock its 11th largest position. Rovida Advisors Inc.’s holdings in Alphabet were worth $14,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Nuveen LLC bought a new stake in Alphabet in the 1st quarter valued at $4,317,606,000. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Alphabet by 3.1% in the second quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock valued at $24,857,017,000 after buying an additional 4,224,497 shares during the period. Finally, Amundi grew its position in Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after buying an additional 3,537,173 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 1.8%

Shares of NASDAQ:GOOGL opened at $314.49 on Tuesday. The company’s fifty day moving average is $270.48 and its 200-day moving average is $220.62. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The company has a market capitalization of $3.79 trillion, a PE ratio of 31.01, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director owned 4,516 shares in the company, valued at $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,072 shares of company stock valued at $58,074,027 over the last quarter. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOOGL shares. Wolfe Research restated an “outperform” rating and set a $350.00 price target (up from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. BMO Capital Markets set a $294.00 price objective on Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Roth Capital upped their target price on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. CICC Research lifted their price target on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Loop Capital raised shares of Alphabet from a “hold” rating to a “buy” rating and boosted their price target for the company from $260.00 to $320.00 in a report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $308.73.

About Alphabet

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.