Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 253,249 shares of the information services provider’s stock after selling 10,756 shares during the period. Alphabet makes up approximately 1.5% of Independent Advisor Alliance’s investment portfolio, making the stock its 9th largest position. Independent Advisor Alliance’s holdings in Alphabet were worth $42,341,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in Alphabet by 360.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after acquiring an additional 15,848 shares in the last quarter. Quent Capital LLC lifted its position in Alphabet by 5.8% during the first quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after purchasing an additional 1,798 shares during the period. Advisors Asset Management Inc. grew its stake in Alphabet by 27.1% during the first quarter. Advisors Asset Management Inc. now owns 10,645 shares of the information services provider’s stock worth $1,621,000 after buying an additional 2,269 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in Alphabet by 6.7% in the 1st quarter. Kennedy Capital Management LLC now owns 79,975 shares of the information services provider’s stock valued at $12,177,000 after buying an additional 5,026 shares during the period. Finally, Incline Global Management LLC raised its position in shares of Alphabet by 76.6% in the 1st quarter. Incline Global Management LLC now owns 96,418 shares of the information services provider’s stock valued at $14,681,000 after buying an additional 41,836 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Down 1.6 %

Shares of GOOG stock opened at $166.57 on Monday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week 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. The stock has a 50 day simple moving average of $169.10 and a two-hundred day simple moving average of $171.87. The company has a market cap of $2.04 trillion, a P/E ratio of 22.09, a PEG ratio of 1.16 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.55 EPS. Research analysts forecast that Alphabet Inc. will post 8.02 earnings per share 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 given 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 dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Pivotal Research increased 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. Five 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s 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 sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,673,866 in the last three months. Company insiders own 12.99% of the company’s stock.

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.