Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,080 shares of the information services provider’s stock after selling 2,508 shares during the quarter. Alphabet accounts for 1.1% of Wrapmanager Inc.’s investment portfolio, making the stock its 22nd largest position. Wrapmanager Inc.’s holdings in Alphabet were worth $4,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Financial Services Inc increased its position in shares of Alphabet by 12.9% in the third quarter. Prospera Financial Services Inc now owns 122,923 shares of the information services provider’s stock valued at $20,555,000 after buying an additional 13,998 shares in the last quarter. Tranquility Partners LLC grew its stake in Alphabet by 1.1% in the 3rd quarter. Tranquility Partners LLC now owns 14,426 shares of the information services provider’s stock valued at $2,412,000 after acquiring an additional 151 shares during the last quarter. Whalen Wealth Management Inc. increased its holdings in Alphabet by 14.1% during the 3rd quarter. Whalen Wealth Management Inc. now owns 10,919 shares of the information services provider’s stock valued at $1,825,000 after acquiring an additional 1,347 shares in the last quarter. Belmont Capital LLC raised its position in Alphabet by 0.7% during the third quarter. Belmont Capital LLC now owns 15,181 shares of the information services provider’s stock worth $2,538,000 after acquiring an additional 111 shares during the last quarter. Finally, Aviance Capital Partners LLC lifted its holdings in shares of Alphabet by 1.0% in the third quarter. Aviance Capital Partners LLC now owns 16,356 shares of the information services provider’s stock valued at $2,735,000 after purchasing an additional 163 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 1.7 %

Alphabet stock opened at $176.80 on Tuesday. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 23.45, a P/E/G ratio of 1.22 and a beta of 1.04. The company has a 50-day simple moving average of $167.56 and a 200-day simple moving average of $171.80. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the firm earned $1.55 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Transactions at Alphabet

In related 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 sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock valued at $34,471,141. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GOOG shares. Scotiabank started coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target 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.