Alphabet Inc. (NASDAQ:GOOG) Stock Position Reduced by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,197 shares of the information services provider’s stock after selling 507 shares during the period. Alphabet accounts for approximately 2.7% of Stoneridge Investment Partners LLC’s holdings, making the stock its 8th biggest position. Stoneridge Investment Partners LLC’s holdings in Alphabet were worth $7,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC increased its holdings in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter worth about $37,000. HWG Holdings LP bought a new stake in Alphabet during the second quarter worth approximately $40,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet during the second quarter valued at approximately $44,000. Finally, Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $170.68 on Tuesday. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31. The business has a 50-day moving average price of $163.87 and a 200 day moving average price of $170.72. The company has a market capitalization of $2.10 trillion, a P/E ratio of 22.64, a PEG ratio of 1.22 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the previous year, the business posted $1.55 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts forecast that Alphabet Inc. will post 7.97 EPS for the current fiscal year.

Alphabet Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction 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 in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,052 shares of company stock valued at $38,086,723. 12.99% of the stock is currently owned by corporate 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.