Valmark Advisers Inc. Sells 297 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Valmark Advisers Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 21,000 shares of the information services provider’s stock after selling 297 shares during the quarter. Valmark Advisers Inc.’s holdings in Alphabet were worth $3,483,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GOOGL. China Universal Asset Management Co. Ltd. lifted its position 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 purchasing an additional 41,880 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Alphabet by 3.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 282,445 shares of the information services provider’s stock worth $42,629,000 after buying an additional 10,543 shares during the period. BW Gestao de Investimentos Ltda. increased its stake in shares of Alphabet by 40.6% in the first quarter. BW Gestao de Investimentos Ltda. now owns 28,593 shares of the information services provider’s stock worth $4,316,000 after buying an additional 8,250 shares during the period. Tobam boosted its position in Alphabet by 5.2% during the 1st quarter. Tobam now owns 15,115 shares of the information services provider’s stock valued at $2,281,000 after buying an additional 752 shares during the period. Finally, Choreo LLC boosted its position in Alphabet by 9.2% during the 1st quarter. Choreo LLC now owns 115,397 shares of the information services provider’s stock valued at $17,417,000 after buying an additional 9,675 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $178.35 on Monday. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.25 and a beta of 1.03. The business’s fifty day simple moving average is $163.54 and its two-hundred day simple moving average is $169.67. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. 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 (NASDAQ:GOOGL) last released its quarterly earnings data 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the firm posted $1.55 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 0.45%. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOGL. Tigress Financial upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Guggenheim boosted their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Mizuho raised their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,752 shares of company stock worth $40,156,829 over the last quarter. 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.