Providence Capital Advisors LLC Has $11.02 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Providence Capital Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 37.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 57,840 shares of the information services provider’s stock after selling 35,137 shares during the period. Alphabet accounts for 2.2% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Providence Capital Advisors LLC’s holdings in Alphabet were worth $11,015,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter worth $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the third quarter valued at $33,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet in the fourth quarter valued at approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. This represents a 19.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,812 shares of company stock valued at $19,336,979 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.8 %

GOOG stock opened at $164.08 on Friday. The company’s 50-day moving average price is $182.36 and its 200 day moving average price is $178.26. The company has a market cap of $2.00 trillion, a P/E ratio of 20.38, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $148.20 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

Several equities analysts have recently commented on GOOG shares. Scotiabank upped their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Wedbush restated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

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.