Adero Partners LLC Has $11.84 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Adero Partners LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,839 shares of the information services provider’s stock after selling 740 shares during the quarter. Alphabet accounts for approximately 0.8% of Adero Partners LLC’s holdings, making the stock its 23rd biggest holding. Adero Partners LLC’s holdings in Alphabet were worth $11,844,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Abich Financial Wealth Management LLC increased its position in shares of 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 purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet during the 2nd quarter worth about $37,000. HWG Holdings LP acquired a new stake in shares of Alphabet during the 2nd quarter worth about $40,000. Sanctuary Wealth Management L.L.C. increased its position 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 purchasing an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOG. Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred 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 owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock valued at $34,471,141. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 2.0 %

Alphabet stock opened at $173.89 on Friday. The company’s 50 day simple moving average is $167.01 and its 200 day simple moving average is $171.70. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The firm has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 23.06, 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 announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Alphabet Company 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.