Mizuho Securities USA LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Mizuho Securities USA LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 311,455 shares of the information services provider’s stock after selling 65,338 shares during the period. Alphabet comprises 1.1% of Mizuho Securities USA LLC’s holdings, making the stock its 10th biggest holding. Mizuho Securities USA LLC’s holdings in Alphabet were worth $52,072,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Twelve Points Wealth Management LLC increased its stake in Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC increased its stake in Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV increased its stake in Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV boosted its holdings in shares of Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after acquiring an additional 58 shares during the period. Finally, Shira Ridge Wealth Management boosted its holdings in shares of Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after acquiring an additional 60 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Barclays boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Finally, Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,295 shares of company stock worth $30,698,791 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $177.33 on Thursday. The stock’s 50-day moving average price is $168.65 and its two-hundred day moving average price is $171.91. 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 company has a market cap of $2.17 trillion, a PE ratio of 23.52, a PEG ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its 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. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. On average, analysts predict that Alphabet Inc. will post 7.99 EPS 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 is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is 10.61%.

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.