BluePath Capital Management LLC Sells 2,515 Shares of Alphabet Inc. (NASDAQ:GOOG)

BluePath Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 63.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,446 shares of the information services provider’s stock after selling 2,515 shares during the quarter. BluePath Capital Management LLC’s holdings in Alphabet were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet in the second quarter worth $37,000. HWG Holdings LP bought a new position in Alphabet in the second quarter worth $40,000. Slocum Gordon & Co LLP bought a new position in Alphabet in the second quarter worth $44,000. Finally, Hoese & Co LLP raised its holdings in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GOOG shares. Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer raised their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was 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 $50,765,346. 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 through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet 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 sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,244 shares of company stock valued at $37,776,954 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.0 %

Shares of NASDAQ:GOOG opened at $172.65 on Friday. The stock has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.24 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The stock’s 50-day simple moving average is $163.81 and its two-hundred day simple moving average is $170.53. Alphabet Inc. has a 52-week low of $128.11 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm posted $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 7.89 EPS for the current year.

Alphabet Announces Dividend

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

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.