Janney Montgomery Scott LLC Sells 28,465 Shares of Alphabet Inc. (NASDAQ:GOOG)

Janney Montgomery Scott LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the 3rd quarter, Holdings Channel reports. The fund owned 1,197,655 shares of the information services provider’s stock after selling 28,465 shares during the period. Janney Montgomery Scott LLC’s holdings in Alphabet were worth $200,236,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in 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 in the last quarter. Swedbank AB acquired a new stake in Alphabet in the first quarter valued at approximately $1,378,708,000. Capital International Investors increased its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Alphabet by 65.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after buying an additional 2,500,621 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after buying an additional 2,190,795 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,244 shares of company stock worth $37,776,954 over the last three months. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on GOOG shares. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. UBS Group raised their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Down 0.0 %

GOOG opened at $172.65 on Monday. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $128.11 and a twelve month high of $193.31. The company has a market cap of $2.13 trillion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The company has a 50-day moving average price of $163.81 and a 200 day moving average price of $170.63.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 the consensus estimate of $86.39 billion. During the same quarter last year, the business posted $1.55 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Alphabet Inc. will post 7.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.