Petra Financial Advisors Inc. Sells 224 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Petra Financial Advisors Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,898 shares of the information services provider’s stock after selling 224 shares during the period. Petra Financial Advisors Inc.’s holdings in Alphabet were worth $315,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth $36,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter worth $41,000. Quarry LP bought a new stake in Alphabet during the second quarter valued at about $53,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,752 shares of company stock worth $40,156,829 over the last 90 days. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $181.62 on Wednesday. The business has a fifty day moving average of $163.88 and a 200-day moving average of $169.91. The firm has a market cap of $2.22 trillion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.27 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 twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping 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 period in the previous year, the firm posted $1.55 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Loop Capital boosted their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price 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. Finally, Evercore ISI raised their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $205.90.

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.