Addison Advisors LLC Sells 78 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Addison Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,474 shares of the information services provider’s stock after selling 78 shares during the period. Addison Advisors LLC’s holdings in Alphabet were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. GDS Wealth Management lifted its position in Alphabet by 3.0% during the 3rd quarter. GDS Wealth Management now owns 114,056 shares of the information services provider’s stock worth $18,916,000 after buying an additional 3,354 shares in the last quarter. TRU Independence Asset Management 2 LLC bought a new stake in Alphabet during the third quarter worth about $820,000. Catalytic Wealth RIA LLC boosted its position in Alphabet by 22.2% during the third quarter. Catalytic Wealth RIA LLC now owns 62,046 shares of the information services provider’s stock valued at $10,290,000 after purchasing an additional 11,254 shares during the last quarter. Chartwell Investment Partners LLC increased its position in shares of Alphabet by 30.1% during the 3rd quarter. Chartwell Investment Partners LLC now owns 91,082 shares of the information services provider’s stock worth $15,106,000 after purchasing an additional 21,073 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its stake in shares of Alphabet by 0.4% during the 3rd quarter. Patten & Patten Inc. TN now owns 215,977 shares of the information services provider’s stock worth $35,820,000 after purchasing an additional 847 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 1.8 %

Shares of Alphabet stock opened at $167.65 on Tuesday. The firm has a market capitalization of $2.05 trillion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $167.83 and its 200 day moving average is $170.34. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Sanford C. Bernstein raised their price target on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.