Oppenheimer & Co. Inc. Has $71.62 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Oppenheimer & Co. Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 428,361 shares of the information services provider’s stock after selling 7,965 shares during the quarter. Alphabet accounts for approximately 1.1% of Oppenheimer & Co. Inc.’s portfolio, making the stock its 10th largest position. Oppenheimer & Co. Inc.’s holdings in Alphabet were worth $71,618,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% during the 2nd 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 during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the second quarter valued at approximately $37,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter valued at $40,000. Sanctuary Wealth Management L.L.C. lifted its stake in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP bought a new stake in shares of Alphabet during the second quarter worth approximately $44,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.5 %

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

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.55 EPS. Research analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The trade was 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. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s 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 sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,495 shares of company stock valued at $34,586,641 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Citigroup lifted their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.