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

Providence Wealth Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the third quarter, HoldingsChannel reports. The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lantz Financial LLC lifted its position in shares of Alphabet by 10.8% in the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after purchasing an additional 452 shares during the period. Capital Investment Advisors LLC raised its stake in Alphabet by 4.5% during the second quarter. Capital Investment Advisors LLC now owns 376,816 shares of the information services provider’s stock worth $68,637,000 after buying an additional 16,253 shares during the last quarter. St. Louis Financial Planners Asset Management LLC lifted its holdings in Alphabet by 50.0% in the second quarter. St. Louis Financial Planners Asset Management LLC now owns 19,221 shares of the information services provider’s stock valued at $3,517,000 after buying an additional 6,404 shares during the period. Register Financial Advisors LLC boosted its position in Alphabet by 16.6% during the second quarter. Register Financial Advisors LLC now owns 2,823 shares of the information services provider’s stock valued at $514,000 after acquiring an additional 401 shares during the last quarter. Finally, Annex Advisory Services LLC grew its holdings in Alphabet by 2.1% during the 2nd quarter. Annex Advisory Services LLC now owns 37,951 shares of the information services provider’s stock worth $6,913,000 after acquiring an additional 785 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GOOGL shares. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. KeyCorp boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Seven 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.03.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the director now owns 28,524 shares in the company, valued at $4,385,565. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,923 shares of company stock valued at $34,244,676 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 5.6 %

Shares of Alphabet stock opened at $185.17 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $191.75. The company’s 50 day moving average price is $169.70 and its 200-day moving average price is $170.21.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 the consensus estimate 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 firm posted $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

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

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.