Alphabet Inc. (NASDAQ:GOOGL) Stake Decreased by Corrado Advisors LLC

Corrado Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,693 shares of the information services provider’s stock after selling 1,976 shares during the period. Alphabet comprises about 2.6% of Corrado Advisors LLC’s holdings, making the stock its biggest position. Corrado Advisors LLC’s holdings in Alphabet were worth $4,095,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Executive Wealth Management LLC increased its holdings in Alphabet by 13.8% in the 3rd quarter. Executive Wealth Management LLC now owns 48,734 shares of the information services provider’s stock worth $8,083,000 after acquiring an additional 5,926 shares during the last quarter. Washington Trust Advisors Inc. lifted its stake in Alphabet by 0.5% in the 3rd quarter. Washington Trust Advisors Inc. now owns 188,659 shares of the information services provider’s stock worth $31,289,000 after purchasing an additional 961 shares in the last quarter. Crumly & Associates Inc. boosted its stake in Alphabet by 4.3% during the third quarter. Crumly & Associates Inc. now owns 5,874 shares of the information services provider’s stock valued at $974,000 after buying an additional 243 shares during the period. Windward Capital Management Co. CA boosted its position in shares of Alphabet by 1.7% during the 3rd quarter. Windward Capital Management Co. CA now owns 302,745 shares of the information services provider’s stock valued at $50,210,000 after acquiring an additional 5,121 shares during the last quarter. Finally, Provident Trust Co. grew its stake in Alphabet by 1.1% in the 3rd quarter. Provident Trust Co. now owns 3,476,456 shares of the information services provider’s stock worth $576,570,000 after buying an additional 36,190 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.7 %

NASDAQ GOOGL opened at $164.76 on Friday. The stock’s 50-day moving average price is $167.64 and its 200-day moving average price is $170.36. The company has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the business earned $1.55 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Loop Capital upped their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Wedbush restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seven 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. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % 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 valued at $34,673,866. Company insiders own 11.55% of the company’s stock.

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.