Pathstone Holdings LLC Has $149.85 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Pathstone Holdings LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 896,272 shares of the information services provider’s stock after selling 20,678 shares during the quarter. Alphabet makes up about 0.7% of Pathstone Holdings LLC’s portfolio, making the stock its 22nd largest holding. Pathstone Holdings LLC’s holdings in Alphabet were worth $149,848,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GOOG. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Alphabet by 360.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after buying an additional 15,848 shares in the last quarter. Quent Capital LLC increased its position in Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after buying an additional 1,798 shares in the last quarter. Empowered Funds LLC boosted its holdings in Alphabet by 19.0% in the first quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after acquiring an additional 13,756 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in Alphabet by 50.0% in the first quarter. Hillsdale Investment Management Inc. now owns 330 shares of the information services provider’s stock valued at $50,000 after acquiring an additional 110 shares during the period. Finally, Vaughan David Investments LLC IL increased its holdings in shares of Alphabet by 43.6% during the first quarter. Vaughan David Investments LLC IL now owns 7,803 shares of the information services provider’s stock valued at $1,188,000 after acquiring an additional 2,371 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several research reports. Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup boosted their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Up 1.7 %

Shares of NASDAQ:GOOG opened at $176.80 on Tuesday. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The company has a market capitalization of $2.16 trillion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The business has a fifty day moving average price of $167.56 and a two-hundred day moving average price of $171.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock valued at $34,471,141. 12.99% of the stock is owned by company insiders.

Alphabet 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.