Fragasso Financial Advisors Inc Sells 10,302 Shares of Alphabet Inc. $GOOGL

Fragasso Financial Advisors Inc reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,445 shares of the information services provider’s stock after selling 10,302 shares during the quarter. Alphabet comprises about 1.0% of Fragasso Financial Advisors Inc’s portfolio, making the stock its 16th biggest position. Fragasso Financial Advisors Inc’s holdings in Alphabet were worth $16,302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bridgeway Capital Management LLC raised its holdings in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares in the last quarter. Alaethes Wealth LLC increased its holdings in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares during the period. Moment Partners LLC raised its stake in Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after buying an additional 504 shares in the last quarter. Welch Group LLC lifted its holdings in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after buying an additional 2,467 shares during the period. Finally, Truist Financial Corp lifted its holdings in Alphabet by 2.3% during the second quarter. Truist Financial Corp now owns 2,546,012 shares of the information services provider’s stock worth $448,684,000 after buying an additional 56,295 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $365.00 price target (up from $330.00) on shares of Alphabet in a research report on Thursday, December 11th. UBS Group reiterated a “neutral” rating and issued a $306.00 target price (up previously from $255.00) on shares of Alphabet in a research note on Thursday, October 30th. CIBC raised their price target on shares of Alphabet to $315.00 in a report on Monday, October 20th. New Street Research increased their target price on shares of Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Finally, China Renaissance raised their target price on shares of Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $315.18.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’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 value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 226,128 shares of company stock valued at $63,183,331. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Down 3.2%

NASDAQ:GOOGL opened at $296.72 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The company has a market cap of $3.58 trillion, a PE ratio of 29.26, a P/E/G ratio of 1.77 and a beta of 1.07. The company’s 50 day moving average is $286.56 and its two-hundred day moving average is $232.35.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s payout ratio is presently 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.