Evanson Asset Management LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Evanson Asset Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,215 shares of the information services provider’s stock after selling 2,478 shares during the period. Alphabet makes up 2.2% of Evanson Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Evanson Asset Management LLC’s holdings in Alphabet were worth $29,963,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Richardson Financial Services Inc. bought a new position in Alphabet in the 4th quarter valued at $34,000. Abich Financial Wealth Management LLC boosted its holdings in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP bought a new position in Alphabet in the 2nd quarter valued at $40,000. Finally, Slocum Gordon & Co LLP bought a new position in Alphabet in the 2nd quarter valued at $44,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $164.39 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a market capitalization of $2.03 trillion, a P/E ratio of 25.21, a PEG ratio of 1.21 and a beta of 1.04. The stock has a 50 day moving average price of $163.53 and a two-hundred day moving average price of $168.91.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the company posted $1.44 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares in the company, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 in the last 90 days. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent analyst reports. UBS Group lowered their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Pivotal Research began coverage on Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $184.11.

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.