Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by PSI Advisors LLC

PSI Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,536 shares of the information services provider’s stock after selling 225 shares during the quarter. PSI Advisors LLC’s holdings in Alphabet were worth $1,747,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC increased its stake in Alphabet by 6.0% during the 1st quarter. Denali Advisors LLC now owns 7,100 shares of the information services provider’s stock worth $1,072,000 after buying an additional 400 shares during the period. KFG Wealth Management LLC lifted its stake in Alphabet by 30.1% in the first quarter. KFG Wealth Management LLC now owns 2,491 shares of the information services provider’s stock worth $376,000 after acquiring an additional 577 shares during the last quarter. BluePath Capital Management LLC grew its holdings in Alphabet by 18.9% during the 1st quarter. BluePath Capital Management LLC now owns 3,569 shares of the information services provider’s stock worth $539,000 after acquiring an additional 568 shares in the last quarter. E&G Advisors LP increased its position in shares of Alphabet by 0.4% in the 1st quarter. E&G Advisors LP now owns 53,945 shares of the information services provider’s stock valued at $8,142,000 after purchasing an additional 194 shares during the last quarter. Finally, OMNI 360 Wealth Inc. raised its holdings in shares of Alphabet by 5.6% in the 1st quarter. OMNI 360 Wealth Inc. now owns 1,972 shares of the information services provider’s stock valued at $298,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the company’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 completion of the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,052 shares of company stock valued at $38,086,723 in the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $169.24 on Tuesday. The firm has a fifty day moving average of $162.49 and a 200-day moving average of $169.20. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 22.45, a PEG ratio of 1.23 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 the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company posted $1.55 earnings per share. As a group, analysts predict that Alphabet Inc. will post 7.91 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Citigroup boosted their price objective on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. UBS Group upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Roth Mkm lifted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

About Alphabet

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.