Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Valicenti Advisory Services Inc.

Valicenti Advisory Services Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,091 shares of the information services provider’s stock after selling 4,682 shares during the quarter. Alphabet comprises about 3.8% of Valicenti Advisory Services Inc.’s portfolio, making the stock its 6th biggest position. Valicenti Advisory Services Inc.’s holdings in Alphabet were worth $14,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares during the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Capital World Investors boosted its stake in Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after acquiring an additional 418,204 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $169.74 on Wednesday. The firm has a 50-day moving average of $162.59 and a 200-day moving average of $169.31. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a market cap of $2.09 trillion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.03. 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 (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the firm posted $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Mizuho lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Argus lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Truist Financial lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.51.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the sale, the director now owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the sale, the director now owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,552 shares of company stock valued at $34,433,848. Company 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.