Providence Capital Advisors LLC Decreases Holdings in Alphabet Inc (GOOGL)

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Providence Capital Advisors LLC cut its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 318 shares of the information services provider’s stock after selling 18 shares during the quarter. Providence Capital Advisors LLC’s holdings in Alphabet were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vestor Capital LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $62,000. Lavaca Capital LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $97,000. Sound Income Strategies LLC grew its position in shares of Alphabet by 71.4% during the 4th quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock valued at $100,000 after acquiring an additional 40 shares during the period. Quantamental Technologies LLC bought a new position in Alphabet in the 4th quarter worth $103,000. Finally, Matthew Goff Investment Advisor LLC bought a new position in Alphabet in the 3rd quarter worth $107,000. Institutional investors and hedge funds own 33.56% of the company’s stock.

Shares of NASDAQ GOOGL opened at $1,145.34 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.93 and a current ratio of 3.96. The stock has a market cap of $801.46 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.36 and a beta of 1.03. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.56 by $1.34. The firm had revenue of $29.48 billion for the quarter, compared to analysts’ expectations of $29.99 billion. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. During the same period in the prior year, the company earned $13.33 EPS. As a group, sell-side analysts expect that Alphabet Inc will post 48.44 EPS for the current year.

Several brokerages recently weighed in on GOOGL. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. DZ Bank reiterated a “hold” rating and issued a $1,197.00 price target on shares of Alphabet in a research note on Wednesday, May 1st. ValuEngine cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. William Blair reiterated an “outperform” rating on shares of Alphabet in a research note on Tuesday, February 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $1,350.00 price target on shares of Alphabet in a research note on Tuesday, February 5th. Five investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $1,328.88.

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Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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