Diversify Advisory Services LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOGL)

Diversify Advisory Services LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 35.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,858 shares of the information services provider's stock after selling 70,011 shares during the quarter. Alphabet accounts for approximately 1.1% of Diversify Advisory Services LLC's investment portfolio, making the stock its 17th biggest position. Diversify Advisory Services LLC's holdings in Alphabet were worth $20,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider's stock valued at $75,144,172,000 after buying an additional 4,064,073 shares during the period. Capital Research Global Investors boosted its stake in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider's stock valued at $9,011,412,000 after buying an additional 238,403 shares during the period. Capital World Investors raised its position in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider's stock worth $5,344,778,000 after acquiring an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider's stock worth $4,274,184,000 after acquiring an additional 418,204 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wedbush reissued an "outperform" rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Bank of America lifted their price target on Alphabet from $206.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. China Renaissance raised Alphabet from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. The Goldman Sachs Group cut their price target on Alphabet from $217.00 to $208.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Finally, Evercore ISI lifted their price target on Alphabet from $200.00 to $205.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.90.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $2.00 during trading on Monday, reaching $180.35. The company had a trading volume of 17,439,302 shares, compared to its average volume of 27,130,313. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The stock has a market capitalization of $2.21 trillion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The stock has a 50-day moving average price of $163.54 and a two-hundred day moving average price of $169.74. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 during the quarter, compared to analysts' expectations of $72.85 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current 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. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet's dividend payout ratio (DPR) is 10.61%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company's stock, valued at $56,765,168.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,752 shares of company stock valued at $40,156,829 over the last three months. 11.55% of the stock is currently owned by insiders.

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.