Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Lodestone Wealth Management LLC

Lodestone Wealth Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 8,730 shares of the information services provider’s stock after selling 1,007 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Alphabet were worth $1,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC grew its position in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares during the last quarter. Hengehold Capital Management LLC lifted its holdings in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. First PREMIER Bank raised its stake in shares of Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after acquiring an additional 61 shares during the last quarter. Finally, MKT Advisors LLC raised its stake in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Down 1.8 %

GOOGL stock opened at $172.49 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company’s 50-day simple moving average is $165.18 and its 200 day simple moving average is $170.08. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a market capitalization of $2.11 trillion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the company posted $1.55 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Guggenheim lifted their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Bank of America upped their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.