Gilman Hill Asset Management LLC Sells 225 Shares of Alphabet Inc. (NASDAQ:GOOG)

Gilman Hill Asset Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,355 shares of the information services provider’s stock after selling 225 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Alphabet were worth $2,400,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Clarity Capital Partners LLC purchased a new stake in Alphabet in the 4th quarter worth about $291,000. WNY Asset Management LLC raised its position in shares of Alphabet by 15.1% in the fourth quarter. WNY Asset Management LLC now owns 16,663 shares of the information services provider’s stock valued at $2,348,000 after purchasing an additional 2,185 shares during the period. Scarborough Advisors LLC lifted its stake in shares of Alphabet by 526.4% during the 4th quarter. Scarborough Advisors LLC now owns 14,088 shares of the information services provider’s stock valued at $1,985,000 after buying an additional 11,839 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in Alphabet in the 4th quarter worth approximately $799,000. Finally, Gordian Capital Singapore Pte Ltd grew its stake in Alphabet by 6.1% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 50,270 shares of the information services provider’s stock valued at $7,085,000 after buying an additional 2,870 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GOOG shares. Pivotal Research assumed coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective on the stock. UBS Group lowered their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer lowered their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Finally, Scotiabank assumed coverage on Alphabet in a report on Friday. They set a “sector outperform” rating and a $212.00 price objective for the company. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Price Performance

NASDAQ GOOG traded up $1.34 on Friday, reaching $164.52. 10,945,971 shares of the company’s stock traded hands, compared to its average volume of 19,793,420. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a market cap of $2.03 trillion, a PE ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The stock has a 50-day simple moving average of $162.81 and a 200 day simple moving average of $169.25. 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 results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period last year, the company earned $1.44 EPS. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’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 owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was 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 in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,092 shares of company stock valued at $35,644,136. Company insiders own 12.99% of the company’s stock.

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.