Corps Capital Advisors LLC Sells 1,625 Shares of Alphabet Inc. $GOOGL

Corps Capital Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 12.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,247 shares of the information services provider’s stock after selling 1,625 shares during the period. Alphabet comprises approximately 3.2% of Corps Capital Advisors LLC’s holdings, making the stock its 12th largest position. Corps Capital Advisors LLC’s holdings in Alphabet were worth $1,982,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in Alphabet during the first quarter valued at approximately $50,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 221,796 shares of company stock valued at $53,983,001 in the last 90 days. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $276.41 on Monday. The business has a 50 day simple moving average of $257.24 and a two-hundred day simple moving average of $209.28. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $292.01. The stock has a market capitalization of $3.34 trillion, a PE ratio of 27.26, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. Cantor Fitzgerald upped their price target on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Guggenheim boosted their price target on Alphabet from $280.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Daiwa Capital Markets raised their price objective on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. China Renaissance lifted their price objective on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, JMP Securities reissued a “market outperform” rating and issued a $290.00 price objective on shares of Alphabet in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $304.10.

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.