Pure Financial Advisors LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Pure Financial Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,074 shares of the information services provider’s stock after selling 1,346 shares during the quarter. Pure Financial Advisors LLC’s holdings in Alphabet were worth $2,998,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter valued at $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter valued at $41,000. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Alphabet during the second quarter valued at $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $172.49 on Friday. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03. The stock has a 50 day moving average of $165.18 and a 200-day moving average of $170.08. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the firm earned $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio is currently 10.61%.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Mizuho raised their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI raised their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note 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 assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. The trade was a 35.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

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.