Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Atlas Private Wealth Advisors

Atlas Private Wealth Advisors lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,160 shares of the information services provider’s stock after selling 493 shares during the period. Alphabet makes up approximately 0.5% of Atlas Private Wealth Advisors’ portfolio, making the stock its 29th biggest holding. Atlas Private Wealth Advisors’ holdings in Alphabet were worth $3,373,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Richardson Financial Services Inc. acquired a new position in Alphabet during the fourth quarter worth $34,000. Abich Financial Wealth Management LLC grew its holdings 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 worth $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the second quarter worth $37,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth $40,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet during the second quarter worth $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $162.70 on Thursday. The business’s 50-day moving average price is $163.07 and its 200 day moving average price is $169.07. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a market capitalization of $2.01 trillion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was 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 over the last quarter. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOG. Oppenheimer dropped their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. UBS Group decreased their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Pivotal Research began coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $184.11.

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.