Independent Advisor Alliance Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Independent Advisor Alliance cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,320 shares of the information services provider’s stock after selling 2,343 shares during the period. Alphabet makes up 1.5% of Independent Advisor Alliance’s investment portfolio, making the stock its 10th biggest holding. Independent Advisor Alliance’s holdings in Alphabet were worth $41,847,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GOOGL. MorganRosel Wealth Management LLC boosted its position in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC boosted its holdings in shares of Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. First PREMIER Bank grew its position in Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after acquiring an additional 61 shares during the last quarter. Finally, Cutler Investment Counsel LLC increased its holdings in Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after purchasing an additional 61 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares of the company’s stock, valued at $7,280,514.53. The trade was a 27.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock valued at $27,803,730 in the last quarter. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GOOGL shares. Wedbush restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Tigress Financial raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Loop Capital upped their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Sanford C. Bernstein raised their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Up 1.2 %

Alphabet stock opened at $174.71 on Monday. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $169.51 and a 200-day moving average of $170.20. The stock has a market capitalization of $2.14 trillion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.