Foundation Wealth Management LLC Sells 167 Shares of Alphabet Inc. (NASDAQ:GOOG)

Foundation Wealth Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,703 shares of the information services provider’s stock after selling 167 shares during the quarter. Alphabet accounts for approximately 0.5% of Foundation Wealth Management LLC’s investment portfolio, making the stock its 24th largest position. Foundation Wealth Management LLC’s holdings in Alphabet were worth $619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BSW Wealth Partners boosted its position in Alphabet by 2.1% during the 3rd quarter. BSW Wealth Partners now owns 23,273 shares of the information services provider’s stock valued at $3,891,000 after acquiring an additional 484 shares in the last quarter. Van ECK Associates Corp boosted its position in Alphabet by 11.0% during the third quarter. Van ECK Associates Corp now owns 547,237 shares of the information services provider’s stock valued at $90,010,000 after purchasing an additional 54,262 shares in the last quarter. GFS Advisors LLC grew its stake in Alphabet by 10,976.6% in the third quarter. GFS Advisors LLC now owns 35,556 shares of the information services provider’s stock valued at $5,945,000 after purchasing an additional 35,235 shares during the last quarter. Allen Wealth Management LLC raised its holdings in Alphabet by 6.4% in the third quarter. Allen Wealth Management LLC now owns 1,332 shares of the information services provider’s stock worth $223,000 after purchasing an additional 80 shares in the last quarter. Finally, Prossimo Advisors LLC raised its holdings in Alphabet by 2.9% in the third quarter. Prossimo Advisors LLC now owns 5,621 shares of the information services provider’s stock worth $940,000 after purchasing an additional 161 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $172.65 on Monday. The firm has a market cap of $2.13 trillion, a PE ratio of 22.90, a P/E/G ratio of 1.24 and a beta of 1.04. Alphabet Inc. has a twelve month low of $128.11 and a twelve month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $163.81 and a 200 day moving average price of $170.63.

Alphabet (NASDAQ:GOOG) last posted 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 analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Five investment 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. 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. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. 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 worth $37,776,954 in the last 90 days. Insiders own 12.99% of the company’s stock.

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.