Invst LLC Has $2.06 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Invst LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,323 shares of the information services provider’s stock after selling 2,085 shares during the quarter. Invst LLC’s holdings in Alphabet were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of GOOG. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $25,000. Abich Financial Wealth Management LLC boosted its stake in 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 valued at $34,000 after buying an additional 184 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter worth approximately $33,000. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the 2nd quarter valued at about $37,000. Finally, HWG Holdings LP purchased a new stake in Alphabet during the second quarter valued at about $40,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $186.53 on Wednesday. The stock has a 50-day simple moving average of $171.26 and a 200-day simple moving average of $171.73. 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 $2.28 trillion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. Alphabet Inc. has a 1 year low of $131.06 and a 1 year high of $193.31.

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 the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for 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%. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $1.55 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on GOOG shares. Oppenheimer raised 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. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their price target 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. UBS Group raised their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Citigroup lifted their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note 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 stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. This represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,923 shares of company stock worth $34,244,676 in the last quarter. 12.99% of the stock is currently owned by company 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.