Fragasso Financial Advisors Inc Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Fragasso Financial Advisors Inc trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,530 shares of the information services provider’s stock after selling 1,181 shares during the quarter. Alphabet comprises approximately 1.3% of Fragasso Financial Advisors Inc’s holdings, making the stock its 13th biggest position. Fragasso Financial Advisors Inc’s holdings in Alphabet were worth $16,569,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Lantz Financial LLC grew its stake in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after acquiring an additional 452 shares in the last quarter. Spectrum Wealth Advisory Group LLC purchased a new position in shares of Alphabet during the second quarter valued at about $218,000. Vance Wealth Inc. increased its holdings in shares of Alphabet by 4.0% in the second quarter. Vance Wealth Inc. now owns 3,089 shares of the information services provider’s stock worth $563,000 after purchasing an additional 119 shares during the last quarter. Tobam lifted its position in shares of Alphabet by 64.3% in the second quarter. Tobam now owns 24,833 shares of the information services provider’s stock worth $4,523,000 after buying an additional 9,718 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Alphabet by 4.8% during the second quarter. D.A. Davidson & CO. now owns 427,320 shares of the information services provider’s stock valued at $77,836,000 after buying an additional 19,423 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock traded down $1.80 on Monday, reaching $190.24. 11,292,433 shares of the stock were exchanged, compared to its average volume of 22,501,383. The business has a 50 day moving average price of $182.62 and a two-hundred day moving average price of $172.95. The firm has a market capitalization of $2.33 trillion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the firm earned $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,387 shares of company stock valued at $27,748,931 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. Wolfe Research upped their price objective on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Morgan Stanley increased their price objective on shares of Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada boosted their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.15.

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.