Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Private Wealth Group LLC

Private Wealth Group LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,240 shares of the information services provider’s stock after selling 500 shares during the quarter. Private Wealth Group LLC’s holdings in Alphabet were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the period. Capital World Investors lifted its holdings in shares of Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares during the period. Capital Research Global Investors lifted its holdings in shares of Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after buying an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after buying an additional 636,008 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer raised their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Barclays raised their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 230,244 shares of company stock worth $37,776,954. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $172.65 on Friday. The company has a market cap of $2.13 trillion, a P/E ratio of 22.90, a P/E/G ratio of 1.31 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $128.11 and a 52 week high of $193.31. The business has a fifty day simple moving average of $163.81 and a 200-day simple moving average of $170.43.

Alphabet (NASDAQ:GOOG) last announced 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.83 EPS for the current year.

Alphabet Announces Dividend

The firm 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet Company 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.