Cornerstone Planning Group LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Cornerstone Planning Group LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,328 shares of the information services provider’s stock after selling 414 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Alphabet were worth $395,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GOOGL. China Universal Asset Management Co. Ltd. lifted its position in Alphabet by 70.6% in the first 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 during the last quarter. Quent Capital LLC lifted its position in shares of Alphabet by 3.6% during the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares in the last quarter. Napean Trading & Investment Co Singapore PTE Ltd lifted its position in shares of Alphabet by 19.7% during the first quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 135,878 shares of the information services provider’s stock worth $20,508,000 after purchasing an additional 22,339 shares in the last quarter. Capital Group Investment Management PTE. LTD. lifted its position in shares of Alphabet by 8.6% during the first quarter. Capital Group Investment Management PTE. LTD. now owns 45,997 shares of the information services provider’s stock worth $6,942,000 after purchasing an additional 3,639 shares in the last quarter. Finally, Capital International Inc. CA lifted its position in shares of Alphabet by 3.4% during the first quarter. Capital International Inc. CA now owns 402,953 shares of the information services provider’s stock worth $60,818,000 after purchasing an additional 13,425 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $169.23 on Thursday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business has a fifty day moving average of $168.22 and a two-hundred day moving average of $170.34. The company has a market cap of $2.07 trillion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during 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, analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOGL. Sanford C. Bernstein raised their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Loop Capital raised their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Seven investment 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, the company presently has a consensus 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.