Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by Corrado Advisors LLC

Corrado Advisors LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,693 shares of the information services provider’s stock after selling 1,976 shares during the quarter. Alphabet comprises 2.6% of Corrado Advisors LLC’s portfolio, making the stock its biggest holding. Corrado Advisors LLC’s holdings in Alphabet were worth $4,095,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its stake in Alphabet by 70.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after purchasing an additional 41,880 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after buying an additional 1,072 shares during the last quarter. Cumberland Partners Ltd increased its holdings in shares of Alphabet by 14.3% in the 1st quarter. Cumberland Partners Ltd now owns 144,393 shares of the information services provider’s stock worth $21,793,000 after buying an additional 18,104 shares during the last quarter. Wintrust Investments LLC raised its position in shares of Alphabet by 5.8% during the 1st quarter. Wintrust Investments LLC now owns 32,780 shares of the information services provider’s stock valued at $4,947,000 after buying an additional 1,803 shares in the last quarter. Finally, TCTC Holdings LLC lifted its holdings in shares of Alphabet by 0.3% in the 1st quarter. TCTC Holdings LLC now owns 63,255 shares of the information services provider’s stock valued at $9,547,000 after acquiring an additional 194 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.7 %

Shares of NASDAQ GOOGL opened at $164.76 on Friday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The business has a fifty day moving average price of $167.64 and a 200 day moving average price of $170.36. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating 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 business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Roth Mkm boosted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $210.00 target price (up previously from $200.00) 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 given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus 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.