Alpha Omega Wealth Management LLC Sells 122 Shares of Alphabet Inc. (NASDAQ:GOOG)

Alpha Omega Wealth Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,708 shares of the information services provider’s stock after selling 122 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Alphabet were worth $2,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC increased its stake in Alphabet by 9,200.0% during 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 in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the second quarter valued at approximately $37,000. HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter valued at approximately $40,000. Richardson Financial Services Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $34,000. Finally, Slocum Gordon & Co LLP bought a new position in Alphabet in the 2nd quarter valued at approximately $44,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOOG shares. Oppenheimer decreased their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Pivotal Research initiated coverage on shares of Alphabet in a report on Tuesday. They issued a “buy” rating and a $215.00 target price on the stock. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Three research 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.75.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock valued at $35,922,911 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.1 %

Shares of GOOG stock opened at $167.21 on Friday. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm has a fifty day moving average price of $163.53 and a 200-day moving average price of $168.49. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

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

Alphabet Dividend Announcement

The company 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 0.48%. Alphabet’s payout ratio is currently 12.27%.

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.