Boston Family Office LLC Sells 707 Shares of Alphabet Inc. (NASDAQ:GOOG)

Boston Family Office LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,349 shares of the information services provider’s stock after selling 707 shares during the period. Alphabet accounts for approximately 2.4% of Boston Family Office LLC’s investment portfolio, making the stock its 5th biggest holding. Boston Family Office LLC’s holdings in Alphabet were worth $35,001,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GOOG. Swedbank AB purchased a new stake in shares of Alphabet during the 1st quarter worth about $1,378,708,000. Assenagon Asset Management S.A. lifted its stake in Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after buying an additional 2,500,621 shares in the last quarter. Vima LLC lifted its stake in Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after buying an additional 2,000,000 shares in the last quarter. Granite Bay Wealth Management LLC lifted its stake in Alphabet by 6,610.0% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock valued at $301,312,000 after buying an additional 1,742,794 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Alphabet by 27.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock valued at $1,375,512,000 after buying an additional 1,632,691 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $166.57 on Monday. The company’s fifty day moving average price is $169.10 and its 200 day moving average price is $171.87. Alphabet Inc. has a 12 month low of $129.40 and a 12 month 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 firm has a market capitalization of $2.04 trillion, a P/E ratio of 22.09, a P/E/G ratio of 1.16 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 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 analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Five equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus 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.