Wheelhouse Advisory Group LLC Sells 194 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wheelhouse Advisory Group LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,614 shares of the information services provider’s stock after selling 194 shares during the quarter. Wheelhouse Advisory Group LLC’s holdings in Alphabet were worth $270,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Abich Financial Wealth Management LLC increased its holdings in shares of 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 worth $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the second quarter worth about $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the second quarter worth about $40,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the second quarter worth about $44,000. Finally, Hoese & Co LLP grew its holdings in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Citigroup increased their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer increased their price objective on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Performance

GOOG opened at $172.65 on Monday. Alphabet Inc. has a 12-month low of $128.11 and a 12-month high of $193.31. The stock 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. The business has a 50 day moving average of $163.81 and a 200-day moving average of $170.63. 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 (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 analysts’ consensus estimates 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 analysts’ expectations of $86.39 billion. During the same period last year, the firm posted $1.55 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 7.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’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 value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, 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 ownership of the stock. 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.

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.