Foyston Gordon & Payne Inc Has $16.64 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Foyston Gordon & Payne Inc cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,332 shares of the information services provider’s stock after selling 9,313 shares during the quarter. Alphabet makes up approximately 4.2% of Foyston Gordon & Payne Inc’s investment portfolio, making the stock its 9th largest holding. Foyston Gordon & Payne Inc’s holdings in Alphabet were worth $16,640,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP bought a new stake in shares of Alphabet in the third quarter valued at about $32,000. Kings Path Partners LLC acquired a new position in shares of Alphabet in the second quarter valued at about $36,000. Denver PWM LLC bought a new position in Alphabet during the second quarter worth about $41,000. Finally, Quarry LP acquired a new stake in Alphabet in the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $195.42 on Wednesday. The business has a 50-day moving average of $172.93 and a 200-day moving average of $170.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the business earned $1.55 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOGL. JMP Securities raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Bank of America raised their price objective on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their price target on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the transaction, the director now owns 26,324 shares in the company, valued at $4,342,143.80. The trade was a 5.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,957 shares of company stock valued at $31,358,687 over the last 90 days. Company insiders own 11.55% of the company’s stock.

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.