Sheaff Brock Investment Advisors LLC Sells 8,919 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sheaff Brock Investment Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,000 shares of the information services provider’s stock after selling 8,919 shares during the period. Alphabet makes up approximately 0.7% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 25th largest holding. Sheaff Brock Investment Advisors LLC’s holdings in Alphabet were worth $9,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the 4th quarter worth about $38,000. Meritage Group LP boosted its holdings in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the last quarter. Armor Investment Advisors LLC grew its position in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares during the period. IAG Wealth Partners LLC lifted its position in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $55,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Wolfe Research raised their price objective on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Loop Capital boosted their price target on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Finally, Redburn Atlantic raised their price objective on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $191.57.

Alphabet Stock Up 0.8 %

Shares of NASDAQ:GOOGL opened at $174.99 on Friday. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $178.77. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.16 trillion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02. The company has a fifty day simple moving average of $160.81 and a 200 day simple moving average of $146.70.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the business earned $1.17 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, June 10th.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the transaction, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the sale, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,935 shares of company stock worth $31,178,987. 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.