Orion Capital Management LLC Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Orion Capital Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the third quarter, HoldingsChannel.com reports. The fund owned 9,828 shares of the information services provider’s stock after selling 92 shares during the period. Alphabet comprises about 0.8% of Orion Capital Management LLC’s portfolio, making the stock its 26th largest holding. Orion Capital Management LLC’s holdings in Alphabet were worth $1,630,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. LMR Partners LLP bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter worth $41,000. Finally, Quarry LP bought a new position in Alphabet in the second quarter worth $53,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Sanford C. Bernstein raised their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Loop Capital boosted their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Stock Down 0.6 %

GOOGL stock opened at $195.42 on Wednesday. The business’s 50-day moving average price is $172.93 and its 200-day moving average price is $170.97. The stock has a market cap of $2.39 trillion, a P/E ratio of 25.92, a PEG ratio of 1.39 and a beta of 1.01. 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 Inc. has a twelve month low of $130.66 and a twelve month high of $201.42.

Alphabet (NASDAQ:GOOGL) last posted 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. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business posted $1.55 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This trade represents a 1.05 % 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 2,834 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,957 shares of company stock valued at $31,358,687 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

About Alphabet

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.