Echo45 Advisors LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Echo45 Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,450 shares of the information services provider’s stock after selling 204 shares during the quarter. Alphabet comprises 0.5% of Echo45 Advisors LLC’s portfolio, making the stock its 26th largest position. Echo45 Advisors LLC’s holdings in Alphabet were worth $737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Edge Financial Advisors LLC bought a new stake in Alphabet during the third quarter worth about $353,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Alphabet by 2.8% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,075,846 shares of the information services provider’s stock worth $500,502,000 after acquiring an additional 83,365 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in Alphabet during the third quarter worth about $3,131,000. Creekmur Asset Management LLC boosted its stake in Alphabet by 5.8% during the third quarter. Creekmur Asset Management LLC now owns 12,768 shares of the information services provider’s stock worth $2,118,000 after acquiring an additional 703 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in Alphabet by 28.6% during the third quarter. Pathway Financial Advisers LLC now owns 4,318 shares of the information services provider’s stock worth $716,000 after acquiring an additional 960 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 1.1 %

GOOGL stock opened at $180.35 on Tuesday. The company has a market capitalization of $2.21 trillion, a PE ratio of 23.92, a P/E/G ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm’s 50-day moving average is $163.54 and its 200 day moving average is $169.74. 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 posted its earnings results 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 business had revenue of $88.27 billion for 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 last year, the firm posted $1.55 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Ratings Changes

Several research analysts have recently issued reports on GOOGL shares. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Piper Sandler reiterated 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. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Finally, Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,752 shares of company stock valued at $40,156,829 in the last 90 days. Insiders own 11.55% of the company’s stock.

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.