Sigma Planning Corp Sells 2,905 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sigma Planning Corp decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,362 shares of the information services provider’s stock after selling 2,905 shares during the quarter. Sigma Planning Corp’s holdings in Alphabet were worth $13,494,000 at the end of the most recent quarter.

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Royal Bank of Canada upped their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. The Goldman Sachs Group reduced their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Down 1.7 %

GOOGL opened at $164.76 on Friday. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.19 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. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm’s fifty day simple moving average is $167.64 and its 200 day simple moving average is $170.35.

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

Alphabet Announces Dividend

The firm 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 $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.