Consolidated Portfolio Review Corp Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Consolidated Portfolio Review Corp reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 62.9% in the third quarter, HoldingsChannel reports. The firm owned 8,465 shares of the information services provider’s stock after selling 14,347 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Alphabet were worth $1,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter worth approximately $36,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter worth about $41,000. Quarry LP bought a new position in Alphabet in the 2nd quarter valued at $53,000. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 2.4 %

Shares of GOOGL opened at $180.75 on Friday. The company’s 50-day moving average price is $162.86 and its 200 day moving average price is $169.36. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. 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 has a market cap of $2.23 trillion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03.

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 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 business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm earned $1.55 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The company 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Evercore ISI upped their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Royal Bank of Canada upped their price target on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Guggenheim raised their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Seven equities 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the transaction, the director now owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 242,552 shares of company stock worth $40,287,253 over the last ninety days. Company 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.