Orion Portfolio Solutions LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 319,991 shares of the information services provider's stock after selling 8,509 shares during the period. Alphabet comprises about 1.2% of Orion Portfolio Solutions LLC's investment portfolio, making the stock its 29th biggest position. Orion Portfolio Solutions LLC's holdings in Alphabet were worth $53,071,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in GOOGL. Lantz Financial LLC grew its position in Alphabet by 10.8% in the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider's stock valued at $842,000 after acquiring an additional 452 shares during the last quarter. Spectrum Wealth Advisory Group LLC acquired a new stake in Alphabet in the second quarter valued at approximately $218,000. Maia Wealth LLC purchased a new position in Alphabet during the 2nd quarter worth $5,474,000. Diversified Trust Co increased its holdings in shares of Alphabet by 23.7% during the second quarter. Diversified Trust Co now owns 241,932 shares of the information services provider's stock valued at $44,068,000 after acquiring an additional 46,338 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. raised its holdings in shares of Alphabet by 1.3% in the second quarter. Ipswich Investment Management Co. Inc. now owns 60,629 shares of the information services provider's stock worth $11,044,000 after buying an additional 790 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet stock opened at $189.82 on Monday. The stock has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $195.61. 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's 50-day moving average is $171.63 and its two-hundred day moving average is $170.63.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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 firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the business earned $1.55 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet's payout ratio is currently 10.61%.
GOOGL has been the subject of a number of research reports. Morgan Stanley boosted 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. Bank of America raised their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. BMO Capital Markets reiterated an "outperform" rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday. Seven investment 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, the company has a consensus rating of "Moderate Buy" and an average price target of $206.08.
View Our Latest Stock Analysis on GOOGL
In related news, Director John L. Hennessy sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares of the company's stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,623 shares of company stock valued at $34,413,006. Insiders own 11.55% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.