Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,530 shares of the information services provider’s stock after selling 1,181 shares during the quarter. Alphabet comprises 1.3% of Fragasso Financial Advisors Inc’s investment portfolio, making the stock its 13th biggest position. Fragasso Financial Advisors Inc’s holdings in Alphabet were worth $16,569,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GOOGL. LMR Partners LLP purchased a new stake in shares of Alphabet during the 3rd quarter valued at approximately $32,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter valued at $41,000. Quarry LP purchased a new position in shares of Alphabet during the 2nd quarter worth $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Alphabet during the 3rd quarter worth about $66,000. Finally, Mendota Financial Group LLC lifted its position in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL traded down $1.80 during mid-day trading on Monday, hitting $190.24. The company’s stock had a trading volume of 11,292,433 shares, compared to its average volume of 22,501,383. The firm has a 50-day simple moving average of $182.62 and a 200 day simple moving average of $172.95. The firm has a market capitalization of $2.33 trillion, a P/E ratio of 25.23, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42.

Alphabet (NASDAQ:GOOGL) last announced its quarterly 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. The business had revenue of $88.27 billion during 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 EPS. Analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Roth Mkm lifted their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Friday. Nine investment 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.15.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,406,343.27. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,387 shares of company stock valued at $27,748,931 in the last ninety days. Corporate 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.