Chicago Partners Investment Group LLC Sells 1,676 Shares of Alphabet Inc. (NASDAQ:GOOG)

Chicago Partners Investment Group LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 57,324 shares of the information services provider’s stock after selling 1,676 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Alphabet were worth $9,429,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Abich Financial Wealth Management LLC increased its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Alphabet during the 2nd quarter worth $37,000. HWG Holdings LP bought a new position in Alphabet during the second quarter worth about $40,000. Slocum Gordon & Co LLP acquired a new position in Alphabet in the second quarter valued at about $44,000. Finally, Hoese & Co LLP increased its holdings in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOG opened at $172.65 on Friday. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $163.81 and its 200 day simple moving average is $170.53. Alphabet Inc. has a 1-year low of $128.11 and a 1-year high of $193.31. The company has a market cap of $2.13 trillion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.24 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 EPS. On average, research analysts forecast that Alphabet Inc. will post 7.89 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 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is 10.61%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred 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 directly 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. Insiders sold a total of 230,244 shares of company stock valued at $37,776,954 over the last three months. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. TD Cowen boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Canaccord Genuity Group lifted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.