Financial Advisors LLC Sells 700 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Financial Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,702 shares of the information services provider’s stock after selling 700 shares during the period. Alphabet accounts for about 0.2% of Financial Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Financial Advisors LLC’s holdings in Alphabet were worth $1,269,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. LMR Partners LLP bought a new position in Alphabet during the 3rd quarter worth approximately $32,000. Denver PWM LLC grew its holdings in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares during the period. Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter valued at $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in Alphabet during the 3rd quarter worth $66,000. Finally, Mendota Financial Group LLC lifted its holdings in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Friday, January 10th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Bank of America reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Finally, Wells Fargo & Company increased their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $208.15.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $198.05 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a fifty day simple moving average of $184.74 and a 200 day simple moving average of $173.33. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $202.29. The company has a market capitalization of $2.42 trillion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is presently 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.