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

FMB Wealth Management lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,769 shares of the information services provider’s stock after selling 72 shares during the quarter. FMB Wealth Management’s holdings in Alphabet were worth $625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new stake in Alphabet during the second quarter valued at $41,000. Quarry LP purchased a new position in Alphabet in the second quarter valued at $53,000. Finally, Summit Securities Group LLC acquired a new position in shares of Alphabet in the second quarter worth about $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. KeyCorp boosted their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,795 shares of company stock worth $34,673,866. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $164.76 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a market cap of $2.02 trillion, a P/E ratio of 21.85, a PEG ratio of 1.19 and a beta of 1.03. The firm’s 50 day moving average price is $167.64 and its 200 day moving average price is $170.35.

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, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the firm earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.