Corrado Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,549 shares of the information services provider’s stock after selling 1,470 shares during the quarter. Alphabet makes up about 3.5% of Corrado Advisors LLC’s investment portfolio, making the stock its largest holding. Corrado Advisors LLC’s holdings in Alphabet were worth $4,267,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Cambridge Advisors Inc. boosted its position in shares of Alphabet by 0.8% in the third quarter. Cambridge Advisors Inc. now owns 9,733 shares of the information services provider’s stock worth $1,274,000 after purchasing an additional 75 shares during the period. Strategic Blueprint LLC boosted its position in shares of Alphabet by 23.3% in the third quarter. Strategic Blueprint LLC now owns 75,244 shares of the information services provider’s stock worth $9,846,000 after purchasing an additional 14,225 shares during the period. Richelieu Gestion SA boosted its position in shares of Alphabet by 76.7% in the third quarter. Richelieu Gestion SA now owns 36,380 shares of the information services provider’s stock worth $4,761,000 after purchasing an additional 15,791 shares during the period. Hanlon Investment Management Inc. boosted its position in shares of Alphabet by 5.6% in the third quarter. Hanlon Investment Management Inc. now owns 3,190 shares of the information services provider’s stock worth $417,000 after purchasing an additional 170 shares during the period. Finally, Marion Wealth Management boosted its position in shares of Alphabet by 6.9% in the third quarter. Marion Wealth Management now owns 22,612 shares of the information services provider’s stock worth $2,959,000 after purchasing an additional 1,456 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Alphabet Trading Up 0.7 %
GOOGL stock opened at $163.86 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $103.71 and a twelve month high of $174.71. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. The firm’s fifty day simple moving average is $149.22 and its two-hundred day simple moving average is $141.95.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, June 10th.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,129 shares of company stock worth $40,382,765. Insiders own 0.88% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Mizuho upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Citigroup boosted their target price on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Redburn Atlantic boosted their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Argus boosted their target price on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.
Get Our Latest Stock Analysis on Alphabet
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.
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