Providence Capital Advisors LLC Sells 79 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Providence Capital Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,626 shares of the information services provider’s stock after selling 79 shares during the period. Providence Capital Advisors LLC’s holdings in Alphabet were worth $601,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FORA Capital LLC lifted its position in Alphabet by 222.5% during the third quarter. FORA Capital LLC now owns 22,500 shares of the information services provider’s stock valued at $3,732,000 after buying an additional 15,523 shares during the period. First Commonwealth Financial Corp PA lifted its position in Alphabet by 0.7% during the third quarter. First Commonwealth Financial Corp PA now owns 31,900 shares of the information services provider’s stock valued at $5,291,000 after buying an additional 218 shares during the period. RPg Family Wealth Advisory LLC lifted its position in Alphabet by 42.6% during the third quarter. RPg Family Wealth Advisory LLC now owns 60,544 shares of the information services provider’s stock valued at $10,041,000 after buying an additional 18,096 shares during the period. CreativeOne Wealth LLC lifted its position in Alphabet by 47.0% during the third quarter. CreativeOne Wealth LLC now owns 80,095 shares of the information services provider’s stock valued at $13,284,000 after buying an additional 25,594 shares during the period. Finally, BNP Paribas lifted its position in Alphabet by 1.1% during the third quarter. BNP Paribas now owns 154,188 shares of the information services provider’s stock valued at $25,486,000 after buying an additional 1,670 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Up 5.6 %

Shares of NASDAQ:GOOGL opened at $185.17 on Wednesday. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.27 trillion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The stock has a 50 day moving average of $169.70 and a 200 day moving average of $170.21.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,923 shares of company stock worth $34,244,676. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on GOOGL shares. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Tigress Financial lifted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. KeyCorp lifted their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.03.

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.