Worth Financial Advisory Group LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Worth Financial Advisory Group LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,306 shares of the information services provider’s stock after selling 169 shares during the period. Worth Financial Advisory Group LLC’s holdings in Alphabet were worth $548,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% in the second 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. Kings Path Partners LLC purchased a new position in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC purchased a new position in Alphabet in the second quarter valued at about $41,000. Quarry LP purchased a new position in Alphabet in the second quarter valued at about $53,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOGL opened at $178.35 on Friday. The business’s 50 day moving average is $163.54 and its 200-day moving average is $169.59. The stock has a market cap of $2.18 trillion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is 10.61%.

Analyst Ratings Changes

Several research firms have commented on GOOGL. Evercore ISI raised their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Tigress Financial raised their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Wolfe Research initiated coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. Finally, Morgan Stanley raised their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the sale, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the sale, the director now directly owns 30,024 shares in the company, valued at approximately $4,894,812.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 242,552 shares of company stock valued at $40,287,253 over the last quarter. Corporate 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.