PSI Advisors LLC Has $1.95 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

PSI Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,321 shares of the information services provider’s stock after selling 215 shares during the period. PSI Advisors LLC’s holdings in Alphabet were worth $1,954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. LMR Partners LLP bought a new stake in Alphabet in the third quarter valued at $32,000. Denver PWM LLC bought a new position in shares of Alphabet during the second quarter valued at $41,000. Quarry LP acquired a new stake in shares of Alphabet in the 2nd quarter valued at $53,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Alphabet in the 3rd quarter worth about $66,000. Finally, Mendota Financial Group LLC increased its position in shares of Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOGL. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Evercore ISI boosted their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Nine investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.15.

Alphabet Stock Down 0.7 %

NASDAQ:GOOGL opened at $189.66 on Wednesday. The company has a market cap of $2.32 trillion, a PE ratio of 25.15, a PEG ratio of 1.35 and a beta of 0.98. The stock has a 50-day simple moving average of $183.45 and a 200 day simple moving average of $173.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,553 shares of company stock worth $23,817,951. Company 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.