Alphabet Inc. (NASDAQ:GOOG) is Cabot Wealth Management Inc.’s 7th Largest Position

Cabot Wealth Management Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,355 shares of the information services provider’s stock after selling 7,505 shares during the quarter. Alphabet comprises approximately 2.5% of Cabot Wealth Management Inc.’s portfolio, making the stock its 7th biggest position. Cabot Wealth Management Inc.’s holdings in Alphabet were worth $20,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Shulman DeMeo Asset Management LLC lifted its position in Alphabet by 16.1% during the third quarter. Shulman DeMeo Asset Management LLC now owns 3,136 shares of the information services provider’s stock valued at $524,000 after buying an additional 436 shares during the period. RDA Financial Network lifted its position in Alphabet by 8.9% during the third quarter. RDA Financial Network now owns 7,654 shares of the information services provider’s stock valued at $1,280,000 after buying an additional 625 shares during the period. Swedbank AB lifted its position in Alphabet by 0.6% during the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after buying an additional 51,226 shares during the period. Zhang Financial LLC raised its position in shares of Alphabet by 1.0% in the 3rd quarter. Zhang Financial LLC now owns 13,583 shares of the information services provider’s stock worth $2,271,000 after purchasing an additional 129 shares during the last quarter. Finally, Hayek Kallen Investment Management raised its position in shares of Alphabet by 5.3% in the 3rd quarter. Hayek Kallen Investment Management now owns 1,990 shares of the information services provider’s stock worth $333,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock worth $35,644,136 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOG traded up $0.55 during mid-day trading on Tuesday, reaching $166.90. The company’s stock had a trading volume of 14,796,666 shares, compared to its average volume of 19,719,043. The firm’s fifty day moving average price is $162.92 and its two-hundred day moving average price is $169.47. The stock has a market cap of $2.06 trillion, a P/E ratio of 25.60, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOG shares. UBS Group lowered their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Scotiabank started coverage on Alphabet in a research report on Friday. They issued a “sector outperform” rating and a $212.00 price target for the company. Finally, Pivotal Research started coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target for the company. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.90.

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.