Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,306 shares of the information services provider’s stock after selling 169 shares during the period. Worth Financial Advisory Group LLC’s holdings in Alphabet were worth $548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the 2nd 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 purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC purchased a new stake in Alphabet during the 2nd quarter valued at approximately $41,000. CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 59.2% during the 1st 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 purchased a new stake in Alphabet during the 2nd quarter valued at approximately $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the transaction, the director now directly owns 30,024 shares in the company, valued at approximately $4,894,812.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 242,552 shares of company stock valued at $40,287,253 in the last quarter. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. KeyCorp upped their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $178.35 on Friday. The business’s fifty day moving average price is $163.54 and its two-hundred day moving average price is $169.59. The stock has a market cap of $2.18 trillion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $1.55 EPS. On average, analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Alphabet Company 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.