Prudent Man Advisors LLC Has $1.50 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Prudent Man Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,070 shares of the information services provider’s stock after selling 462 shares during the period. Prudent Man Advisors LLC’s holdings in Alphabet were worth $1,504,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of GOOGL. Glass Wealth Management Co LLC lifted its holdings in shares of Alphabet by 3.3% during the 3rd quarter. Glass Wealth Management Co LLC now owns 35,474 shares of the information services provider’s stock worth $5,883,000 after acquiring an additional 1,124 shares during the period. Westfuller Advisors LLC bought a new position in Alphabet in the third quarter valued at approximately $965,000. Gilbert & Cook Inc. raised its position in Alphabet by 5.6% during the third quarter. Gilbert & Cook Inc. now owns 1,216 shares of the information services provider’s stock valued at $202,000 after purchasing an additional 64 shares in the last quarter. Essential Planning LLC. raised its position in Alphabet by 2.3% during the third quarter. Essential Planning LLC. now owns 3,617 shares of the information services provider’s stock valued at $600,000 after purchasing an additional 81 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Alphabet by 3.8% during the third quarter. Thrivent Financial for Lutherans now owns 776,885 shares of the information services provider’s stock worth $128,846,000 after purchasing an additional 28,612 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOGL. Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Loop Capital boosted their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America upped their price objective on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Seven research 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. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock opened at $168.95 on Monday. 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 one year low of $127.90 and a one year high of $191.75. The stock’s 50-day moving average is $168.47 and its 200 day moving average is $170.31. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.20 and a beta of 1.03.

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

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction dated 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 sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock valued at $34,673,866. Corporate insiders own 11.55% of the company’s stock.

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.