W.H. Cornerstone Investments Inc. Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

W.H. Cornerstone Investments Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,637 shares of the information services provider’s stock after selling 910 shares during the quarter. Alphabet accounts for approximately 2.9% of W.H. Cornerstone Investments Inc.’s holdings, making the stock its 10th largest position. W.H. Cornerstone Investments Inc.’s holdings in Alphabet were worth $4,252,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital Management Corp VA boosted its stake in shares of Alphabet by 11.2% during the 3rd quarter. Capital Management Corp VA now owns 42,676 shares of the information services provider’s stock valued at $7,078,000 after buying an additional 4,291 shares during the period. Clarity Financial LLC raised its holdings in Alphabet by 2.4% during the third quarter. Clarity Financial LLC now owns 5,678 shares of the information services provider’s stock valued at $942,000 after buying an additional 133 shares in the last quarter. Amalgamated Bank lifted its position in shares of Alphabet by 1.0% in the third quarter. Amalgamated Bank now owns 1,274,850 shares of the information services provider’s stock worth $211,434,000 after buying an additional 13,050 shares during the last quarter. United Advisor Group LLC lifted its position in shares of Alphabet by 150.2% in the third quarter. United Advisor Group LLC now owns 34,908 shares of the information services provider’s stock worth $5,790,000 after buying an additional 20,955 shares during the last quarter. Finally, Stoneridge Investment Partners LLC boosted its stake in shares of Alphabet by 9.6% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 37,511 shares of the information services provider’s stock worth $6,221,000 after acquiring an additional 3,300 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,471,141 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.8 %

Shares of NASDAQ:GOOGL opened at $172.49 on Monday. 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 stock has a fifty day simple moving average of $165.61 and a two-hundred day simple moving average of $170.22. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.23 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 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the company earned $1.55 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business 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 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOGL shares. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Sanford C. Bernstein raised their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Seven investment 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.