Pine Valley Investments Ltd Liability Co Sells 999 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pine Valley Investments Ltd Liability Co lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the third quarter, HoldingsChannel reports. The firm owned 86,509 shares of the information services provider’s stock after selling 999 shares during the quarter. Alphabet comprises 0.9% of Pine Valley Investments Ltd Liability Co’s holdings, making the stock its 18th largest holding. Pine Valley Investments Ltd Liability Co’s holdings in Alphabet were worth $14,348,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Boyar Asset Management Inc. lifted its holdings in shares of Alphabet by 2.3% in the third quarter. Boyar Asset Management Inc. now owns 9,880 shares of the information services provider’s stock valued at $1,639,000 after purchasing an additional 225 shares in the last quarter. Eaton Financial Holdings Company LLC acquired a new stake in Alphabet in the 3rd quarter valued at approximately $4,097,000. Fulcrum Equity Management lifted its stake in Alphabet by 42.1% in the 3rd quarter. Fulcrum Equity Management now owns 2,924 shares of the information services provider’s stock valued at $485,000 after acquiring an additional 867 shares in the last quarter. Anchor Investment Management LLC boosted its position in Alphabet by 5.6% during the 3rd quarter. Anchor Investment Management LLC now owns 99,520 shares of the information services provider’s stock worth $16,505,000 after acquiring an additional 5,267 shares during the last quarter. Finally, Tudor Financial Inc. bought a new position in shares of Alphabet during the 3rd quarter worth approximately $216,000. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GOOGL. Tigress Financial increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Royal Bank of Canada raised their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $206.69.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 178,957 shares of company stock valued at $31,358,687. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $188.51 on Friday. The firm has a market cap of $2.31 trillion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. 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 stock’s fifty day moving average price is $173.99 and its two-hundred day moving average price is $171.21. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the business earned $1.55 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio 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.