Pingora Partners LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pingora Partners LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,327 shares of the information services provider’s stock after selling 213 shares during the period. Pingora Partners LLC’s holdings in Alphabet were worth $220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC grew its position in Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after acquiring an additional 1,237,385 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares in the last quarter. American Century Companies Inc. increased its stake in Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after buying an additional 418,204 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Alphabet by 9.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock worth $4,237,426,000 after buying an additional 1,949,476 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 1.1 %

GOOGL stock opened at $189.82 on Friday. The firm’s 50-day moving average is $171.63 and its two-hundred day moving average is $170.67. 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 company has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $195.61.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm 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 quarter in the previous year, the company earned $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company 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 of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,623 shares of company stock valued at $34,413,006 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOGL. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Robert W. Baird reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. JMP Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Alphabet 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.