Corrado Advisors LLC Sells 2,517 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Corrado Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,176 shares of the information services provider's stock after selling 2,517 shares during the period. Alphabet makes up approximately 2.7% of Corrado Advisors LLC's holdings, making the stock its biggest position. Corrado Advisors LLC's holdings in Alphabet were worth $4,198,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GOOGL. Pettinga Financial Advisors LLC lifted its position in Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider's stock worth $363,000 after acquiring an additional 201 shares during the last quarter. WD Rutherford LLC increased its stake in shares of Alphabet by 2.2% in the third quarter. WD Rutherford LLC now owns 31,715 shares of the information services provider's stock worth $5,260,000 after purchasing an additional 669 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of Alphabet by 28.6% in the third quarter. Pathway Financial Advisers LLC now owns 4,318 shares of the information services provider's stock worth $716,000 after purchasing an additional 960 shares during the period. Creekmur Asset Management LLC lifted its position in shares of Alphabet by 5.8% during the 3rd quarter. Creekmur Asset Management LLC now owns 12,768 shares of the information services provider's stock worth $2,118,000 after purchasing an additional 703 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in Alphabet during the 3rd quarter valued at approximately $3,131,000. Institutional investors own 40.03% of the company's stock.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 2,834 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares of the company's stock, valued at $4,085,531.55. This represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares in the company, valued at $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,182 shares of company stock valued at $18,192,354 over the last 90 days. 11.55% of the stock is owned by company insiders.

Alphabet Trading Down 1.1 %

GOOGL opened at $164.04 on Wednesday. Alphabet Inc. has a 1-year low of $137.03 and a 1-year high of $207.05. The firm has a 50-day moving average price of $187.20 and a two-hundred day moving average price of $176.55. The stock has a market capitalization of $2.00 trillion, a PE ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. DZ Bank lowered Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target for the company. in a report on Thursday, February 6th. DA Davidson upped their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Wedbush raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. KeyCorp upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an "overweight" rating in a research report on Friday, January 10th. Finally, Morgan Stanley decreased their target price on Alphabet from $215.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $210.62.

About Alphabet

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.

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