Corrado Advisors LLC Has $4.27 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Corrado Advisors LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,549 shares of the information services provider’s stock after selling 1,470 shares during the period. Alphabet accounts for 3.5% of Corrado Advisors LLC’s holdings, making the stock its biggest holding. Corrado Advisors LLC’s holdings in Alphabet were worth $4,267,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Meritage Group LP increased its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC increased its stake in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. Armor Investment Advisors LLC increased its stake in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in Alphabet in the fourth quarter valued at $55,000. Finally, LFA Lugano Financial Advisors SA increased its stake in Alphabet by 301.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after purchasing an additional 392 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,129 shares of company stock valued at $40,382,765. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Needham & Company LLC lifted their price target on shares of Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. JMP Securities lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday, April 26th. Loop Capital lifted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday. Wedbush lifted their price objective on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Rosenblatt Securities lifted their price objective on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Alphabet Stock Performance

NASDAQ GOOGL opened at $163.86 on Thursday. The company’s 50 day moving average is $149.22 and its 200-day moving average is $141.95. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.04 trillion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. Alphabet Inc. has a 12-month low of $103.71 and a 12-month high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the prior year, the firm posted $1.17 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.49 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, June 10th.

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.