Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 13.7% 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 63,758 shares of the information services provider’s stock after selling 10,097 shares during the quarter. Alphabet accounts for 0.9% of Icon Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Icon Wealth Advisors LLC’s holdings in Alphabet were worth $10,660,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. M&G PLC purchased a new position in shares of Alphabet in the 3rd quarter valued at about $2,240,000. Colonial River Wealth Management LLC boosted its stake in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after acquiring an additional 107 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Alphabet by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after acquiring an additional 5,892 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 0.1 %

NASDAQ GOOG opened at $170.82 on Friday. The firm has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company’s 50 day moving average price is $169.86 and its 200 day moving average price is $171.84.

Alphabet (NASDAQ:GOOG) last issued 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

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

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several research reports. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. 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 MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Company 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.