Burt Wealth Advisors Sells 455 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Burt Wealth Advisors reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,253 shares of the information services provider’s stock after selling 455 shares during the quarter. Burt Wealth Advisors’ holdings in Alphabet were worth $871,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the second quarter valued at approximately $41,000. Quarry LP purchased a new position in shares of Alphabet during the second quarter valued at approximately $53,000. Finally, Summit Securities Group LLC purchased a new position in shares of Alphabet during the second quarter valued at approximately $55,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 4.6 %

GOOGL opened at $167.83 on Friday. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $167.50 and a 200 day moving average price of $170.38. The company has a market cap of $2.05 trillion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the firm earned $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 in the last 90 days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet 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.