Prime Capital Investment Advisors LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Prime Capital Investment Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 273,195 shares of the information services provider's stock after selling 13,070 shares during the period. Prime Capital Investment Advisors LLC's holdings in Alphabet were worth $45,309,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter worth $41,000. Quarry LP acquired a new position in Alphabet during the 2nd quarter worth about $53,000. Finally, Summit Securities Group LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $55,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL traded down $0.32 during mid-day trading on Wednesday, reaching $168.80. The stock had a trading volume of 4,323,135 shares, compared to its average volume of 27,150,787. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The business has a fifty day moving average of $168.03 and a 200 day moving average of $170.35. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm posted $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Scotiabank raised Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. Wells Fargo & Company upped their price objective 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. Needham & Company LLC reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Finally, KeyCorp lifted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.90.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 2,061,806 shares of the company's stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,835 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company's stock, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,795 shares of company stock worth $34,673,866. Corporate insiders own 11.55% of the company's stock.

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.