Peddock Capital Advisors LLC Sells 205 Shares of Alphabet Inc. (NASDAQ:GOOG)

Peddock Capital Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,067 shares of the information services provider’s stock after selling 205 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Alphabet were worth $1,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the period. Swedbank AB bought a new position in Alphabet during the first quarter valued at about $1,378,708,000. Capital International Investors grew its position in Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Alphabet by 51.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after purchasing an additional 2,190,795 shares during the period. Finally, Vima LLC boosted its position in Alphabet by 178,253.1% during the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,592 shares of company stock worth $35,922,911. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock traded down $2.84 during trading hours on Wednesday, hitting $162.86. 7,099,097 shares of the company’s stock were exchanged, compared to its average volume of 19,809,730. The company has a market capitalization of $2.01 trillion, a PE ratio of 25.41, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The business’s 50 day simple moving average is $163.27 and its 200-day simple moving average is $169.12. 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 posted its quarterly earnings results 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the firm posted $1.44 earnings per share. The business’s revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GOOG shares. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus 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.