Providence Capital Advisors LLC Has $601,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Providence Capital Advisors LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,626 shares of the information services provider’s stock after selling 79 shares during the quarter. Providence Capital Advisors LLC’s holdings in Alphabet were worth $601,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOGL. Fisher Asset Management LLC increased its holdings in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after acquiring an additional 1,237,385 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 shares during the period. American Century Companies Inc. boosted its stake in Alphabet by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Alphabet by 9.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock valued at $4,237,426,000 after purchasing an additional 1,949,476 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 5.6 %

NASDAQ GOOGL opened at $185.17 on Wednesday. The stock’s 50-day simple moving average is $169.70 and its two-hundred day simple moving average is $170.21. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75. 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 company has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.55 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOGL. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Roth Mkm upped their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Thursday, October 24th. Finally, Piper Sandler reissued an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.03.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the transaction, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. This represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,923 shares of company stock worth $34,244,676. Company insiders own 11.55% of the company’s stock.

Alphabet 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.