Patriot Financial Group Insurance Agency LLC Sells 4,182 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Patriot Financial Group Insurance Agency LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,905 shares of the information services provider’s stock after selling 4,182 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Alphabet were worth $4,296,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its stake in Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after buying an additional 41,880 shares during the period. Tanager Wealth Management LLP increased its stake in Alphabet by 4.0% in the 1st quarter. Tanager Wealth Management LLP now owns 22,454 shares of the information services provider’s stock worth $3,389,000 after buying an additional 864 shares during the period. High Note Wealth LLC increased its stake in Alphabet by 5.9% in the 1st quarter. High Note Wealth LLC now owns 48,484 shares of the information services provider’s stock worth $7,318,000 after buying an additional 2,681 shares during the period. Westwood Wealth Management purchased a new position in Alphabet in the 1st quarter worth about $9,478,000. Finally, REDW Wealth LLC increased its stake in Alphabet by 3.4% in the 1st quarter. REDW Wealth LLC now owns 6,384 shares of the information services provider’s stock worth $964,000 after buying an additional 210 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GOOGL shares. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. JMP Securities raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Bank of America raised their target price on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $178.35 on Friday. 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 50 day simple moving average of $163.54 and a two-hundred day simple moving average of $169.59. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.25 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the business posted $1.55 EPS. As a group, analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 242,552 shares of company stock worth $40,287,253 in the last three months. Company insiders own 11.55% of the company’s stock.

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.