Parthenon LLC Has $23.30 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Parthenon LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,346 shares of the information services provider’s stock after acquiring an additional 551 shares during the quarter. Alphabet comprises 2.8% of Parthenon LLC’s portfolio, making the stock its 8th largest position. Parthenon LLC’s holdings in Alphabet were worth $23,297,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GOOG. M&G PLC acquired a new position in Alphabet during the third quarter valued at approximately $2,240,000. Colonial River Wealth Management LLC grew its holdings in shares of Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after buying an additional 107 shares during the period. Verdence Capital Advisors LLC increased its position in shares of Alphabet by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after buying an additional 5,892 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after buying an additional 498 shares during the period. Finally, Marks Group Wealth Management Inc lifted its holdings in Alphabet by 5.4% during the third quarter. Marks Group Wealth Management Inc now owns 162,384 shares of the information services provider’s stock worth $27,149,000 after acquiring an additional 8,304 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer upped their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Down 1.5 %

NASDAQ GOOG opened at $180.49 on Thursday. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $165.75 and a 200-day moving average of $171.50. The company has a market cap of $2.21 trillion, a PE ratio of 23.94, a PEG ratio of 1.29 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results 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 firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.55 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,495 shares of company stock worth $34,586,641 over the last 90 days. Company 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.