Alphabet Inc. (NASDAQ:GOOG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the third quarter, HoldingsChannel.com reports. The firm owned 3,583,980 shares of the information services provider’s stock after selling 77,586 shares during the period. The Manufacturers Life Insurance Company’s holdings in Alphabet were worth $599,202,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOG. Abich Financial Wealth Management LLC boosted 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 buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the second quarter worth approximately $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the second quarter worth approximately $40,000. Slocum Gordon & Co LLP acquired a new position in Alphabet in the 2nd quarter valued at $44,000. Finally, Sanctuary Wealth Management L.L.C. lifted its holdings 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 valued at $42,000 after purchasing an additional 117 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction 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 owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.7 %

NASDAQ:GOOG opened at $169.43 on Tuesday. 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 stock’s fifty day moving average is $169.30 and its two-hundred day moving average is $171.85. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its 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. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s 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. Research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Scotiabank began coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $200.56.

About Alphabet

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.