Claro Advisors LLC Sells 6,765 Shares of Alphabet Inc. $GOOGL

Claro Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,381 shares of the information services provider’s stock after selling 6,765 shares during the period. Alphabet accounts for approximately 0.8% of Claro Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Claro Advisors LLC’s holdings in Alphabet were worth $5,002,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Alphabet in the 1st quarter valued at $4,317,606,000. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.9% during 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alphabet by 11.4% in the first 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 valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Amundi lifted its position in Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. lifted its holdings in shares of Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $276.41 on Monday. 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 twelve month low of $140.53 and a twelve month high of $292.01. The company has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.05. The firm has a 50-day moving average price of $257.24 and a 200-day moving average price of $209.28.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOGL. Guggenheim upped their target price on Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Sanford C. Bernstein boosted their price target on Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. CIBC raised their price objective on Alphabet to $315.00 in a research report on Monday, October 20th. UBS Group reaffirmed a “neutral” rating and issued a $306.00 price objective (up from $255.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, Wells Fargo & Company increased their target price on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the transaction, the chief accounting officer owned 14,517 shares of the company’s stock, valued at $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 221,796 shares of company stock valued at $53,983,001. Insiders own 11.64% 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.