Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 151,719 shares of the information services provider’s stock after selling 323 shares during the quarter. Alphabet comprises about 3.3% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 3rd biggest position. Aviance Capital Partners LLC’s holdings in Alphabet were worth $25,163,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Citizens Business Bank grew its holdings in shares of Alphabet by 0.3% during the third quarter. Citizens Business Bank now owns 59,475 shares of the information services provider’s stock worth $10,833,000 after buying an additional 158 shares in the last quarter. Joseph Group Capital Management boosted its position in Alphabet by 23.1% during the third quarter. Joseph Group Capital Management now owns 22,311 shares of the information services provider’s stock worth $3,700,000 after acquiring an additional 4,181 shares during the last quarter. Nixon Peabody Trust Co. grew its stake in Alphabet by 2.1% in the 3rd quarter. Nixon Peabody Trust Co. now owns 98,783 shares of the information services provider’s stock worth $16,383,000 after acquiring an additional 1,995 shares during the period. Meeder Advisory Services Inc. raised its holdings in Alphabet by 3.9% in the 3rd quarter. Meeder Advisory Services Inc. now owns 104,326 shares of the information services provider’s stock valued at $17,303,000 after acquiring an additional 3,951 shares during the last quarter. Finally, Semus Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% during the 3rd quarter. Semus Wealth Partners LLC now owns 21,935 shares of the information services provider’s stock worth $3,638,000 after purchasing an additional 740 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,124 shares of company stock worth $31,374,030 over the last ninety days. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. Sanford C. Bernstein upped their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Loop Capital upped their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. KeyCorp raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JMP Securities upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Up 1.5 %

NASDAQ GOOGL opened at $171.49 on Tuesday. The company has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 1.20 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 Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The company’s fifty day moving average price is $168.47 and its two-hundred day moving average price is $170.31.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the firm earned $1.55 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given 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 dividend payout ratio is currently 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.