Guidance Point Advisors LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)

Guidance Point Advisors LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the third quarter, Holdings Channel reports. The fund owned 2,144 shares of the information services provider’s stock after selling 128 shares during the quarter. Guidance Point Advisors LLC’s holdings in Alphabet were worth $356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its holdings in Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after acquiring an additional 41,880 shares during the last quarter. Quent Capital LLC lifted its stake in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after purchasing an additional 1,072 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Alphabet by 12.3% during the 1st quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider’s stock worth $28,351,000 after purchasing an additional 20,572 shares during the period. Legacy Capital Group California Inc. increased its position in Alphabet by 8.9% during the 1st quarter. Legacy Capital Group California Inc. now owns 13,732 shares of the information services provider’s stock worth $2,073,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in Alphabet by 510.4% in the first quarter. Headlands Technologies LLC now owns 12,282 shares of the information services provider’s stock valued at $1,854,000 after buying an additional 10,270 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on GOOGL shares. Morgan Stanley boosted their price objective on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Finally, KeyCorp raised their target price on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Trading Up 1.6 %

Shares of GOOGL stock opened at $175.30 on Tuesday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The firm has a market capitalization of $2.15 trillion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The stock has a fifty day moving average of $166.15 and a two-hundred day moving average of $170.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations 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 company earned $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. The trade was a 35.31 % 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 ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Company 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.