Clarity Capital Partners LLC Sells 971 Shares of Alphabet Inc. (NASDAQ:GOOG)

Clarity Capital Partners LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 35.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,736 shares of the information services provider’s stock after selling 971 shares during the period. Clarity Capital Partners LLC’s holdings in Alphabet were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. China Universal Asset Management Co. Ltd. raised its holdings in Alphabet by 360.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after acquiring an additional 15,848 shares during the period. PDS Planning Inc boosted its position in Alphabet by 2.3% in the first quarter. PDS Planning Inc now owns 28,740 shares of the information services provider’s stock valued at $4,376,000 after buying an additional 656 shares in the last quarter. Greenwood Capital Associates LLC raised its stake in shares of Alphabet by 6.7% during the first quarter. Greenwood Capital Associates LLC now owns 16,015 shares of the information services provider’s stock valued at $2,438,000 after acquiring an additional 1,009 shares during the last quarter. Hollencrest Capital Management raised its stake in shares of Alphabet by 34.6% during the first quarter. Hollencrest Capital Management now owns 53,480 shares of the information services provider’s stock valued at $8,143,000 after acquiring an additional 13,747 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its stake in shares of Alphabet by 7.4% during the first quarter. Valley Brook Capital Group Inc. now owns 9,358 shares of the information services provider’s stock valued at $1,425,000 after acquiring an additional 645 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG opened at $170.68 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The stock has a 50 day moving average price of $163.87 and a 200 day moving average price of $170.72. The company has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 7.97 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOG. Barclays lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. DA Davidson upgraded 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 report on Tuesday, October 29th. Finally, Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five investment 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 company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the transaction, the director now directly owns 30,024 shares in the company, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,052 shares of company stock worth $38,086,723 over the last 90 days. 12.99% of the stock is currently owned by insiders.

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.