Ameritas Advisory Services LLC Sells 5,614 Shares of Alphabet Inc. $GOOGL

Ameritas Advisory Services LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 21.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,971 shares of the information services provider’s stock after selling 5,614 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Alphabet were worth $4,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new position in Alphabet during the second quarter valued at $31,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Alphabet in the 3rd quarter worth about $53,000. Corsicana & Co. bought a new position in shares of Alphabet in the 3rd quarter worth about $54,000. Vermillion & White Wealth Management Group LLC lifted its position in Alphabet by 37.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 89 shares during the period. Finally, S&T Bank PA boosted its position in shares of Alphabet by 40.2% in the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Trading Up 1.4%

Shares of NASDAQ GOOGL opened at $311.76 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $349.00. The firm has a market cap of $3.77 trillion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 1.80 and a beta of 1.09. The business has a fifty day simple moving average of $320.99 and a two-hundred day simple moving average of $282.22. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The firm had revenue of $113.83 billion during the quarter, compared to the consensus estimate of $111.24 billion. Analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $312.30, for a total value of $867,569.40. Following the completion of the transaction, the chief accounting officer owned 8,962 shares of the company’s stock, valued at $2,798,832.60. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $327.30, for a total value of $10,637,250.00. Following the sale, the chief executive officer owned 2,211,872 shares of the company’s stock, valued at approximately $723,945,705.60. This represents a 1.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,112,482 shares of company stock valued at $119,145,289. 11.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Alphabet from $370.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Moffett Nathanson raised their target price on Alphabet from $305.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Evercore restated an “outperform” rating and set a $400.00 target price (up from $325.00) on shares of Alphabet in a research note on Thursday, February 5th. Royal Bank Of Canada lifted their price target on shares of Alphabet from $375.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, New Street Research boosted their price target on shares of Alphabet from $330.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Three investment analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.57.

View Our Latest Report on Alphabet

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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