Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 104,513 shares of the information services provider’s stock after selling 3,455 shares during the period. Miracle Mile Advisors LLC’s holdings in Alphabet were worth $19,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LMR Partners LLP acquired a new stake in shares of Alphabet in the third quarter valued at about $32,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter worth about $41,000. Quarry LP purchased a new stake in Alphabet during the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Alphabet during the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC lifted its position in shares of 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 acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Roth Mkm increased their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.15.

Alphabet Price Performance

Alphabet stock opened at $191.01 on Tuesday. The firm has a market cap of $2.34 trillion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42. The company’s 50 day moving average is $183.05 and its two-hundred day moving average is $172.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. On average, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given 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 was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,053 shares of company stock worth $27,559,701. 11.55% of the stock is currently owned by corporate insiders.

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.