Cigna Investments Inc. New Has $10.06 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Cigna Investments Inc. New lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,654 shares of the information services provider’s stock after selling 690 shares during the period. Alphabet makes up about 1.8% of Cigna Investments Inc. New’s holdings, making the stock its 7th biggest position. Cigna Investments Inc. New’s holdings in Alphabet were worth $10,059,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. LCM Capital Management Inc lifted its holdings in shares of Alphabet by 2.1% in the third quarter. LCM Capital Management Inc now owns 20,940 shares of the information services provider’s stock worth $3,473,000 after buying an additional 434 shares in the last quarter. Oak Ridge Investments LLC lifted its stake in Alphabet by 7.1% in the 3rd quarter. Oak Ridge Investments LLC now owns 141,586 shares of the information services provider’s stock worth $23,482,000 after purchasing an additional 9,352 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC boosted its holdings in Alphabet by 4.8% in the 3rd quarter. Baron Silver Stevens Financial Advisors LLC now owns 10,063 shares of the information services provider’s stock valued at $1,669,000 after purchasing an additional 459 shares during the period. Fairfield Financial Advisors LTD grew its position in shares of Alphabet by 0.4% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 60,553 shares of the information services provider’s stock valued at $10,043,000 after purchasing an additional 244 shares in the last quarter. Finally, O ROURKE & COMPANY Inc increased its holdings in shares of Alphabet by 1.1% in the third quarter. O ROURKE & COMPANY Inc now owns 18,441 shares of the information services provider’s stock worth $3,058,000 after purchasing an additional 203 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOOGL. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Tigress Financial raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Seven investment 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 company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Trading Down 1.5 %

Shares of NASDAQ GOOGL opened at $178.88 on Thursday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day moving average is $164.37 and its two-hundred day moving average is $169.98. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 23.72, a PEG ratio of 1.29 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for 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 quarter in the previous year, the company posted $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.99 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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade 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 this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 207,495 shares of company stock valued at $34,586,641. Company 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.