ForthRight Wealth Management LLC Has $796,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

ForthRight Wealth Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the third quarter, Holdings Channel reports. The fund owned 4,759 shares of the information services provider’s stock after acquiring an additional 65 shares during the quarter. ForthRight Wealth Management LLC’s holdings in Alphabet were worth $796,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Capital International Investors raised its stake in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. raised its position in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Capital World Investors lifted its holdings in Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after buying an additional 979,083 shares during the period. Capital Research Global Investors grew its position in shares of Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after buying an additional 684,968 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Alphabet by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after buying an additional 636,008 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Down 2.0 %

GOOG opened at $172.69 on Friday. Alphabet Inc. has a fifty-two week low of $123.93 and a fifty-two week high of $193.31. The firm has a market capitalization of $2.13 trillion, a P/E ratio of 22.90, a PEG ratio of 1.31 and a beta of 1.04. The company’s 50-day moving average is $163.71 and its 200 day moving average is $170.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 EPS. Research analysts expect that Alphabet Inc. will post 7.83 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,744 shares of company stock valued at $35,878,764. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group raised their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.