Profit Investment Management LLC Sells 248 Shares of Alphabet Inc. (NASDAQ:GOOG)

Profit Investment Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,306 shares of the information services provider’s stock after selling 248 shares during the period. Profit Investment Management LLC’s holdings in Alphabet were worth $553,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Twelve Points Wealth Management LLC lifted its stake in Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC boosted its holdings in shares of Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV grew its position in shares of Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after buying an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV raised its stake in Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after acquiring an additional 60 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOOG has been the topic of a number of research reports. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Pivotal Research started coverage on Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. Scotiabank started coverage on shares of Alphabet in a research report on Friday. They set a “sector outperform” rating and a $212.00 price target for the company. Finally, Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,092 shares of company stock worth $35,644,136 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 0.9 %

Shares of GOOG traded up $1.41 during trading hours on Friday, reaching $164.59. The company’s stock had a trading volume of 2,443,655 shares, compared to its average volume of 19,750,299. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.03 trillion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average of $162.89 and a two-hundred day moving average of $169.03. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the previous year, the company posted $1.44 EPS. Alphabet’s revenue was up 13.6% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 11.48%.

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.