Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,249 shares of the information services provider’s stock after selling 10,756 shares during the quarter. Alphabet comprises about 1.5% of Independent Advisor Alliance’s investment portfolio, making the stock its 9th largest holding. Independent Advisor Alliance’s holdings in Alphabet were worth $42,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Swedbank AB bought a new position in Alphabet during the 1st quarter worth approximately $1,378,708,000. Assenagon Asset Management S.A. grew its holdings in shares of Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after buying an additional 2,500,621 shares during the period. Vima LLC grew its holdings in shares of Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after buying an additional 2,000,000 shares during the period. Granite Bay Wealth Management LLC increased its position in shares of Alphabet by 6,610.0% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock valued at $301,312,000 after buying an additional 1,742,794 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Alphabet by 27.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock worth $1,375,512,000 after buying an additional 1,632,691 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 1.6 %

Shares of Alphabet stock opened at $166.57 on Monday. Alphabet Inc. has a 12-month low of $129.40 and a 12-month 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 business’s 50 day moving average is $169.10 and its 200-day moving average is $171.87. The stock has a market cap of $2.04 trillion, a P/E ratio of 22.09, a P/E/G ratio of 1.16 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Scotiabank initiated coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling

In other news, 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 value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % 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. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock worth $34,673,866. Company 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.