Gladstone Institutional Advisory LLC Sells 7,860 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Gladstone Institutional Advisory LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,000 shares of the information services provider’s stock after selling 7,860 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Alphabet were worth $14,429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Alphabet by 70.6% during 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 purchasing an additional 41,880 shares in the last quarter. Quent Capital LLC lifted its stake in Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after acquiring an additional 1,072 shares during the last quarter. CV Advisors LLC grew its position in shares of Alphabet by 37.4% in the 1st quarter. CV Advisors LLC now owns 50,829 shares of the information services provider’s stock valued at $7,672,000 after acquiring an additional 13,833 shares during the period. Embree Financial Group increased its stake in shares of Alphabet by 3.0% during the 1st quarter. Embree Financial Group now owns 66,561 shares of the information services provider’s stock worth $10,046,000 after purchasing an additional 1,925 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Alphabet by 3.6% in the 1st quarter. Signaturefd LLC now owns 207,795 shares of the information services provider’s stock valued at $31,362,000 after purchasing an additional 7,179 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $178.88 on Thursday. The firm has a market cap of $2.19 trillion, a P/E ratio of 23.72, a P/E/G ratio of 1.29 and a beta of 1.03. The stock’s 50 day moving average is $164.37 and its 200 day moving average is $169.98. 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 Inc. has a one year low of $127.90 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the company posted $1.55 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared 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. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. This 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 accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value 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 approximately $362,126,319.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 207,495 shares of company stock worth $34,586,641. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Truist Financial boosted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Loop Capital raised their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Citigroup increased their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI lifted their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.