Alphabet Inc. (NASDAQ:GOOG) Holdings Lowered by High Note Wealth LLC

High Note Wealth LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,835 shares of the information services provider’s stock after selling 127 shares during the quarter. High Note Wealth LLC’s holdings in Alphabet were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Abich Financial Wealth Management LLC raised its holdings in shares of 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 worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $40,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $34,000. Finally, Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $44,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. Pivotal Research initiated coverage on shares of Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. UBS Group dropped their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday. TD Cowen lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.11.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock worth $35,922,911 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOG opened at $163.06 on Thursday. The company’s 50 day moving average price is $163.27 and its 200 day moving average price is $169.12. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a market capitalization of $2.02 trillion, a PE ratio of 25.01, a PEG ratio of 1.21 and a beta of 1.04. 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 (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm posted $1.44 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet Company 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.