Alphabet Inc. $GOOGL Shares Sold by Sigma Planning Corp

Sigma Planning Corp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,233 shares of the information services provider’s stock after selling 3,483 shares during the period. Sigma Planning Corp’s holdings in Alphabet were worth $14,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gimbal Financial raised its position in Alphabet by 1.9% during the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after acquiring an additional 53 shares during the period. Missouri Trust & Investment Co increased its stake in Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares in the last quarter. Silver Coast Investments LLC increased its position in shares of Alphabet by 1.3% during the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC raised its position in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after buying an additional 57 shares during the last quarter. Finally, Bfsg LLC raised its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 221,796 shares of company stock valued at $53,983,001. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $276.41 on Friday. The stock has a market cap of $3.34 trillion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $292.01. The firm has a fifty day moving average price of $257.24 and a 200 day moving average price of $208.59.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GOOGL shares. UBS Group reaffirmed a “neutral” rating and issued a $306.00 target price (up from $255.00) on shares of Alphabet in a research note on Thursday, October 30th. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Susquehanna boosted their price target on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, October 30th. Morgan Stanley increased their price objective on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Evercore ISI upped their target price on shares of Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

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.