Providence Wealth Advisors LLC Purchases 100 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Providence Wealth Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,133 shares of the information services provider’s stock after purchasing an additional 100 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Alphabet were worth $841,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. LMR Partners LLP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $32,000. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP purchased a new position in Alphabet in the second quarter worth $53,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, 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 transaction, the director now owns 28,524 shares in the company, valued at $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,923 shares of company stock worth $34,244,676. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Bank of America raised their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned 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 $206.03.

Alphabet Trading Up 5.6 %

NASDAQ GOOGL opened at $185.17 on Wednesday. The stock’s 50-day moving average is $169.70 and its 200-day moving average is $170.21. Alphabet Inc. has a one year low of $129.68 and a one year high of $191.75. The firm has a market cap of $2.27 trillion, a P/E ratio of 24.56, a P/E/G ratio of 1.24 and a beta of 1.01. 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 (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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 firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the company posted $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.