Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cornerstone Planning Group LLC

Cornerstone Planning Group LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,328 shares of the information services provider’s stock after selling 414 shares during the period. Cornerstone Planning Group LLC’s holdings in Alphabet were worth $395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $41,000. Quarry LP acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $53,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $169.23 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The stock’s 50-day moving average is $168.22 and its two-hundred day moving average is $170.34. The firm has a market cap of $2.07 trillion, a P/E ratio of 22.44, a PEG ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm posted $1.55 EPS. Analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial upped their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America increased their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. DA Davidson began coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. BMO Capital Markets reissued 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. Finally, Loop Capital increased their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

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