Alexander Randolph Advisory Inc. Has $4.17 Million Holdings in Alphabet Inc. $GOOGL

Alexander Randolph Advisory Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,666 shares of the information services provider’s stock after selling 710 shares during the period. Alphabet comprises about 3.7% of Alexander Randolph Advisory Inc.’s investment portfolio, making the stock its 6th biggest holding. Alexander Randolph Advisory Inc.’s holdings in Alphabet were worth $4,171,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC grew its position in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $39,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GOOGL shares. Evercore ISI raised their price target on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Daiwa Capital Markets upped their price objective on shares of Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. UBS Group reaffirmed a “neutral” rating and set a $306.00 target price (up previously from $255.00) on shares of Alphabet in a research note on Thursday, October 30th. Cantor Fitzgerald boosted their price target on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, HSBC increased their price target on shares of Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $304.10.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 221,796 shares of company stock valued at $53,983,001. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 2.8%

GOOGL stock opened at $278.57 on Friday. The business has a 50 day moving average of $256.42 and a 200 day moving average of $207.79. The firm has a market cap of $3.36 trillion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $292.01. 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 (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

About Alphabet

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.