Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Platform Technology Partners

Platform Technology Partners cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,749 shares of the information services provider’s stock after selling 1,032 shares during the period. Alphabet comprises about 1.2% of Platform Technology Partners’ holdings, making the stock its 14th largest position. Platform Technology Partners’ holdings in Alphabet were worth $3,803,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GOOG. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 buying an additional 15,848 shares in the last quarter. Quent Capital LLC boosted its stake in Alphabet by 5.8% in the first quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after acquiring an additional 1,798 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Alphabet by 19.0% during the first quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after purchasing an additional 13,756 shares during the last quarter. Motley Fool Asset Management LLC increased its position in shares of Alphabet by 5.2% during the first quarter. Motley Fool Asset Management LLC now owns 485,420 shares of the information services provider’s stock worth $73,910,000 after purchasing an additional 23,833 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its holdings in shares of Alphabet by 2.0% in the 1st quarter. Baltimore Washington Financial Advisors Inc. now owns 205,197 shares of the information services provider’s stock valued at $31,243,000 after purchasing an additional 3,964 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOOG shares. Citigroup raised their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Performance

Shares of GOOG opened at $183.32 on Wednesday. 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 company has a 50-day simple moving average of $165.25 and a 200-day simple moving average of $171.44. The company has a market capitalization of $2.24 trillion, a PE ratio of 24.31, a P/E/G ratio of 1.28 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, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.55 EPS. Equities research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,752 shares of company stock valued at $40,156,829 in the last 90 days. 12.99% of the stock is currently owned by insiders.

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.