Neumann Capital Management Sells 560 Shares of Alphabet Inc. (GOOGL)
Neumann Capital Management LLC recently made some adjustments to its portfolio, reducing its holdings in Alphabet Inc. by 1.2% during the third quarter of this year. The company sold 560 shares, bringing its total number of shares to 47,150. This makes Alphabet the 11th largest position in Neumann Capital Management LLC’s investment portfolio, comprising 2.6% of their total holdings and valued at $7,820,000.
Additionally, other hedge funds have also made changes to their positions in Alphabet. For example, Christopher J. Hasenberg Inc increased its stake by 75% during the second quarter, while various other funds, including Kings Path Partners LLC, Denver PWM LLC, Quarry LP, and Summit Securities Group LLC, bought new positions in the company during the same period.
Furthermore, recent insider trading activity at Alphabet includes CAO Amie Thuener O’toole and Director Kavitark Ram Shriram selling shares of the company’s stock. These transactions were disclosed in filings with the SEC, indicating a decrease in their respective positions. Corporate insiders have sold a total of 206,795 shares of company stock worth $34,673,866 in the last quarter, amounting to 11.55% of the total stock ownership.
Alphabet’s stock performance on NASDAQ shows that it opened at $169.23 on Friday. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.44, and other key financial indicators like a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s fifty-day and 200-day simple moving averages are $168.36 and $170.33, respectively.
In terms of quarterly earnings, Alphabet reported $2.12 earnings per share for the latest quarter, surpassing the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion, compared to analyst estimates of $72.85 billion, with a net margin of 27.74% and a return on equity of 31.66%. Analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.
Moreover, Alphabet recently announced a quarterly dividend, set to be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will receive a $0.20 dividend, representing an annualized dividend of $0.80 and a yield of 0.47%. Alphabet’s current dividend payout ratio stands at 10.61%.
Various analysts have weighed in on Alphabet, with price target updates and ratings. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.90. This includes ratings ranging from “buy” to “strong buy” by several analysts based on their assessment of the company’s performance.
For more information on Alphabet’s stock and the latest hedge fund positions in the company, interested individuals can visit HoldingsChannel.com to access the latest 13F filings and insider trades related to Alphabet Inc. (NASDAQ:GOOGL).
