Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,394,874 shares of the information services provider’s stock after selling 316,212 shares during the quarter. Alphabet accounts for 0.9% of Victory Capital Management Inc.’s holdings, making the stock its 6th biggest position. Victory Capital Management Inc.’s holdings in Alphabet were worth $901,969,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC lifted its stake in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the second quarter worth $37,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. increased its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP bought a new stake in Alphabet during the 2nd quarter worth about $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $183.32 on Wednesday. The firm has a market cap of $2.24 trillion, a PE ratio of 24.31, a P/E/G ratio of 1.28 and a beta of 1.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a fifty day moving average price of $165.25 and a 200-day moving average price of $171.44.

Alphabet (NASDAQ:GOOG) last issued its quarterly 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the business posted $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOG shares. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Scotiabank assumed coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’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 directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 241,752 shares of company stock valued at $40,156,829 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

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.