Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Addison Advisors LLC

Addison Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,474 shares of the information services provider’s stock after selling 78 shares during the quarter. Addison Advisors LLC’s holdings in Alphabet were worth $1,240,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its position in Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after buying an additional 41,880 shares in the last quarter. Quent Capital LLC lifted its stake in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after acquiring an additional 1,072 shares during the period. Point Break Capital Management LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $2,807,000. PYA Waltman Capital LLC increased its stake in shares of Alphabet by 0.6% during the first quarter. PYA Waltman Capital LLC now owns 69,841 shares of the information services provider’s stock valued at $10,541,000 after acquiring an additional 400 shares during the period. Finally, Hilltop Partners LLC raised its holdings in Alphabet by 19.4% during the first quarter. Hilltop Partners LLC now owns 9,658 shares of the information services provider’s stock worth $1,458,000 after purchasing an additional 1,568 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. 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. BMO Capital Markets restated 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. Roth Mkm increased their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Up 1.8 %

GOOGL stock opened at $167.65 on Tuesday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. 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 business’s 50 day moving average is $167.83 and its 200-day moving average is $170.34. The firm has a market cap of $2.05 trillion, a P/E ratio of 22.23, a P/E/G ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company 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 in the previous year, the company earned $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % 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, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock valued at $34,673,866. Corporate insiders own 11.55% of the company’s stock.

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.