Gilbert & Cook Inc. Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Gilbert & Cook Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,991 shares of the information services provider’s stock after selling 955 shares during the period. Alphabet comprises approximately 0.7% of Gilbert & Cook Inc.’s holdings, making the stock its 13th largest position. Gilbert & Cook Inc.’s holdings in Alphabet were worth $5,349,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its holdings in 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 acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the 2nd quarter worth approximately $37,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP bought a new stake in Alphabet in the 2nd quarter worth approximately $44,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% in 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 during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 2.0 %

Shares of GOOG stock opened at $173.89 on Friday. The stock has a market cap of $2.13 trillion, a P/E ratio of 23.06, a PEG ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $167.01 and its two-hundred day simple moving average is $171.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 EPS. Analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOG. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays boosted 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. JPMorgan Chase & Co. boosted 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, Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’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 transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock worth $34,471,141. 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.