W.G. Shaheen & Associates DBA Whitney & Co Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

W.G. Shaheen & Associates DBA Whitney & Co trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,231 shares of the information services provider’s stock after selling 903 shares during the quarter. Alphabet comprises approximately 1.9% of W.G. Shaheen & Associates DBA Whitney & Co’s holdings, making the stock its 17th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Alphabet were worth $17,287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC grew its holdings in shares of Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after purchasing an additional 1,072 shares in the last quarter. Alexander Labrunerie & CO. Inc. bought a new stake in Alphabet in the first quarter worth about $1,396,000. Pathway Financial Advisers LLC bought a new position in Alphabet in the 1st quarter valued at $437,000. Spear Holdings RSC Ltd purchased a new stake in Alphabet in the 1st quarter valued at about $39,302,000. Finally, Motiv8 Investments LLC grew its stake in Alphabet by 29.5% in the 1st quarter. Motiv8 Investments LLC now owns 4,786 shares of the information services provider’s stock worth $722,000 after acquiring an additional 1,090 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. This trade represents a 27.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. JMP Securities raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Trading Down 0.1 %

NASDAQ GOOGL opened at $171.34 on Wednesday. The firm’s 50-day moving average is $168.84 and its two-hundred day moving average is $170.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The stock has a market capitalization of $2.10 trillion, a P/E ratio of 22.72, a PEG ratio of 1.22 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping 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 firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share 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 paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

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.