Adero Partners LLC Has $11.84 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Adero Partners LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 70,839 shares of the information services provider’s stock after selling 740 shares during the period. Alphabet accounts for 0.8% of Adero Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Adero Partners LLC’s holdings in Alphabet were worth $11,844,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Atlanta Consulting Group Advisors LLC boosted its position in Alphabet by 35.3% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 16,197 shares of the information services provider’s stock worth $2,708,000 after purchasing an additional 4,223 shares during the period. Frazier Financial Advisors LLC boosted its position in Alphabet by 8.4% during the third quarter. Frazier Financial Advisors LLC now owns 1,376 shares of the information services provider’s stock worth $230,000 after purchasing an additional 107 shares during the period. GoalVest Advisory LLC boosted its position in Alphabet by 22.5% during the third quarter. GoalVest Advisory LLC now owns 1,411 shares of the information services provider’s stock worth $236,000 after purchasing an additional 259 shares during the period. Accredited Investors Inc. boosted its position in Alphabet by 1.0% during the third quarter. Accredited Investors Inc. now owns 29,246 shares of the information services provider’s stock worth $4,890,000 after purchasing an additional 302 shares during the period. Finally, Schneider Downs Wealth Management Advisors LP boosted its position in Alphabet by 41.8% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 4,941 shares of the information services provider’s stock worth $826,000 after purchasing an additional 1,457 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research boosted their target price 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 boosted their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group boosted their target price 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. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Down 2.0 %

Shares of NASDAQ GOOG opened at $173.89 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.13 trillion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The stock has a 50-day moving average price of $167.01 and a two-hundred day moving average price of $171.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. As a group, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares of the company’s stock, 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 90 days, insiders sold 206,795 shares of company stock valued at $34,471,141. 12.99% of the stock is currently owned by company insiders.

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.