Beacon Financial Advisory LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Beacon Financial Advisory LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,568 shares of the information services provider’s stock after selling 148 shares during the period. Beacon Financial Advisory LLC’s holdings in Alphabet were worth $1,421,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc grew its stake 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. Kings Path Partners LLC purchased a new position in Alphabet during the 2nd quarter valued at $36,000. Denver PWM LLC purchased a new position in Alphabet during the 2nd quarter valued at $41,000. Quarry LP bought a new position in Alphabet in the 2nd quarter valued at $53,000. Finally, Summit Securities Group LLC purchased a new stake in Alphabet in the second quarter worth $55,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. KeyCorp increased their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up from $200.00) 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 over the last three months. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $175.30 on Tuesday. The company has a 50 day moving average price of $166.15 and a 200-day moving average price of $170.28. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The firm has a market cap of $2.15 trillion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.23 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 (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the business earned $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current 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 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 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.