Neumann Capital Management LLC Sells 560 Shares of Alphabet Inc. (NASDAQ:GOOGL) – Stock Update
Neumann Capital Management LLC recently made changes to its holdings in Alphabet Inc. (NASDAQ:GOOGL), selling 560 shares during the third quarter. This amounted to a 1.2% reduction in their investment in Alphabet, leaving them with 47,150 shares of the company. Currently, Alphabet makes up 2.6% of Neumann Capital Management LLC’s investment portfolio, ranking as their 11th largest position. The total value of Neumann Capital Management LLC’s holdings in Alphabet was $7,820,000 as of their most recent SEC filing.
In addition to Neumann Capital Management LLC, other hedge funds also adjusted their positions in Alphabet recently. For example, Christopher J. Hasenberg Inc increased its stake in Alphabet by 75% during the second quarter, while Kings Path Partners LLC, Denver PWM LLC, Quarry LP, and Summit Securities Group LLC also acquired new positions in the company during the same period. Currently, 40.03% of Alphabet’s stock is owned by institutional investors.
In terms of insider trading activity, the chief accounting officer of Alphabet, Amie Thuener O’toole, recently sold 682 shares of the company’s stock, while Director Kavitark Ram Shriram sold 10,500 shares. Insiders have collectively sold 206,795 shares of Alphabet stock in the last quarter, representing 11.55% of the total shares owned by insiders.
As of Friday, Alphabet’s stock (NASDAQ:GOOGL) opened at $169.23. The company has a market capitalization of $2.07 trillion, with a price-to-earnings ratio of 22.44. Alphabet has a current ratio of 1.95 and a quick ratio of 1.95, along with a debt-to-equity ratio of 0.04. The company’s fifty-day simple moving average is $168.36, and its 200-day simple moving average is $170.33. Analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.
Recently, Alphabet announced a quarterly dividend, with shareholders of record on December 9th set to receive a $0.20 dividend on December 16th. This represents an annualized dividend of $0.80 and a yield of 0.47%. Currently, Alphabet’s dividend payout ratio stands at 10.61%.
Several analysts have provided their ratings on Alphabet, with a mix of buy, neutral, and strong-buy recommendations. Sanford C. Bernstein, Seaport Res Ptn, Evercore ISI, DA Davidson, and Piper Sandler are among the firms that have recently commented on Alphabet’s stock. MarketBeat reports that Alphabet has an average rating of “Moderate Buy” and an average target price of $205.90.
Alphabet Inc. offers a range of products and services across various segments, including Google Services, Google Cloud, and Other Bets. These products and platforms are available in multiple regions worldwide, providing a diverse range of offerings, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
