Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273,195 shares of the information services provider’s stock after selling 13,070 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Alphabet were worth $45,309,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new stake in Alphabet during the second quarter valued at $41,000. Quarry LP acquired a new stake in Alphabet during the second quarter valued at $53,000. Finally, Summit Securities Group LLC purchased a new position in Alphabet in the second quarter valued at $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. JMP Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 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 issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Trading Up 0.9 %

NASDAQ GOOGL opened at $169.12 on Wednesday. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The firm has a 50 day moving average of $168.03 and a two-hundred day moving average of $170.35. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.07 trillion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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 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 period in the previous year, the company earned $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by insiders.

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.