Providence Capital Advisors LLC Acquires 5,644 Shares of Alphabet Inc. (NASDAQ:GOOG)

Providence Capital Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,977 shares of the information services provider’s stock after acquiring an additional 5,644 shares during the period. Alphabet comprises about 3.1% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Providence Capital Advisors LLC’s holdings in Alphabet were worth $15,545,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its holdings in Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Alphabet by 65.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after purchasing an additional 2,500,621 shares during the last quarter. Granite Bay Wealth Management LLC lifted its holdings in Alphabet by 6,610.0% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock valued at $301,312,000 after purchasing an additional 1,742,794 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Alphabet by 27.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock valued at $1,375,512,000 after purchasing an additional 1,632,691 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Alphabet by 182.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after purchasing an additional 1,630,701 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred 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 owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOOG shares. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Citigroup boosted their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Trading Up 0.1 %

NASDAQ GOOG opened at $170.82 on Thursday. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.09 trillion, a P/E ratio of 22.66, a P/E/G ratio of 1.18 and a beta of 1.04. The stock’s 50-day moving average is $169.71 and its 200-day moving average is $171.85.

Alphabet (NASDAQ:GOOG) 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 the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company posted $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.