Cobblestone Capital Advisors LLC NY Sells 1,072 Shares of Alphabet Inc. $GOOGL

Cobblestone Capital Advisors LLC NY cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,948 shares of the information services provider’s stock after selling 1,072 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Alphabet were worth $12,856,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its position in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG raised its position in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after buying an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after buying an additional 104,859 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on GOOGL. Oppenheimer lifted their price target on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Roth Capital lifted their target price on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. DA Davidson raised their price target on Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $290.00 price objective on shares of Alphabet in a research note on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.10.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. The trade was a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,396 shares of company stock worth $54,105,275 over the last ninety days. 11.64% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOGL opened at $278.83 on Friday. The business has a fifty day moving average of $251.23 and a 200 day moving average of $204.19. The stock has a market cap of $3.37 trillion, a P/E ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

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.