SAM Advisors LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

SAM Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,350 shares of the information services provider’s stock after selling 230 shares during the quarter. Alphabet makes up 0.4% of SAM Advisors LLC’s portfolio, making the stock its 24th biggest position. SAM Advisors LLC’s holdings in Alphabet were worth $1,062,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank raised its holdings in Alphabet by 0.3% in the third quarter. Huntington National Bank now owns 233,305 shares of the information services provider’s stock worth $39,006,000 after purchasing an additional 762 shares in the last quarter. Summit Asset Management LLC increased its holdings in shares of Alphabet by 1.5% during the third quarter. Summit Asset Management LLC now owns 8,535 shares of the information services provider’s stock valued at $1,427,000 after acquiring an additional 127 shares in the last quarter. Fortis Capital Management LLC increased its holdings in shares of Alphabet by 3.3% during the third quarter. Fortis Capital Management LLC now owns 58,567 shares of the information services provider’s stock valued at $9,792,000 after acquiring an additional 1,895 shares in the last quarter. Plato Investment Management Ltd increased its holdings in shares of Alphabet by 1.1% during the third quarter. Plato Investment Management Ltd now owns 125,590 shares of the information services provider’s stock valued at $20,976,000 after acquiring an additional 1,314 shares in the last quarter. Finally, Cable Hill Partners LLC increased its holdings in shares of Alphabet by 6.5% during the third quarter. Cable Hill Partners LLC now owns 9,380 shares of the information services provider’s stock valued at $1,568,000 after acquiring an additional 573 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.5 %

GOOG stock opened at $180.49 on Thursday. Alphabet Inc. has a twelve month low of $129.40 and a twelve 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 stock has a market cap of $2.21 trillion, a P/E ratio of 23.94, a PEG ratio of 1.29 and a beta of 1.04. The business’s 50-day moving average price is $166.20 and its 200-day moving average price is $171.57.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

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

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 207,495 shares of company stock worth $34,586,641. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Oppenheimer increased their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.