Alphabet Inc. $GOOGL Shares Sold by Corps Capital Advisors LLC

Corps Capital Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,247 shares of the information services provider’s stock after selling 1,625 shares during the period. Alphabet makes up approximately 3.2% of Corps Capital Advisors LLC’s holdings, making the stock its 12th largest holding. Corps Capital Advisors LLC’s holdings in Alphabet were worth $1,982,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Gimbal Financial grew its position in shares of Alphabet by 1.9% during the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after buying an additional 53 shares during the last quarter. Missouri Trust & Investment Co raised its holdings in shares of Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after buying an additional 55 shares during the last quarter. Silver Coast Investments LLC raised its stake in shares of Alphabet by 1.3% during the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC boosted its stake in Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares in the last quarter. Finally, Bfsg LLC increased its holdings in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after buying an additional 59 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Down 0.8%

NASDAQ GOOGL opened at $276.41 on Monday. The stock has a market cap of $3.34 trillion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $292.01. The stock has a 50 day simple moving average of $257.24 and a two-hundred day simple moving average of $209.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company 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%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Sanford C. Bernstein boosted their target price on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Wedbush reiterated an “outperform” rating and issued a $320.00 target price (up previously from $245.00) on shares of Alphabet in a report on Thursday, October 30th. UBS Group reissued a “neutral” rating and set a $306.00 price objective (up previously from $255.00) on shares of Alphabet in a research report on Thursday, October 30th. BNP Paribas Exane raised their price objective on shares of Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. 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. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 221,796 shares of company stock worth $53,983,001 over the last 90 days. 11.64% of the stock is owned by company insiders.

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.