Alphabet Inc. (NASDAQ:GOOG) Shares Sold by CAP Partners LLC

CAP Partners LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 10,092 shares of the information services provider’s stock after selling 67 shares during the quarter. Alphabet comprises approximately 1.3% of CAP Partners LLC’s holdings, making the stock its 22nd largest position. CAP Partners LLC’s holdings in Alphabet were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC lifted its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter valued at approximately $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the second quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. boosted its stake in shares of Alphabet by 87.3% in the third 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 during the period. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet during the 2nd quarter valued at $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock valued at $34,471,141. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Jefferies Financial Group raised their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group upped their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Price Performance

Shares of GOOG opened at $174.33 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.13 trillion, a PE ratio of 23.06, a PEG ratio of 1.22 and a beta of 1.04. The firm’s 50 day moving average price is $167.01 and its 200 day moving average price is $171.74. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.99 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.