Alphabet Inc. (NASDAQ:GOOG) Stock Position Reduced by Miller Wealth Advisors LLC

Miller Wealth Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the 3rd quarter, Holdings Channel reports. The firm owned 124,065 shares of the information services provider’s stock after selling 3,088 shares during the quarter. Alphabet makes up about 11.2% of Miller Wealth Advisors LLC’s holdings, making the stock its 4th biggest position. Miller Wealth Advisors LLC’s holdings in Alphabet were worth $20,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 13,876,534 shares in the last quarter. Swedbank AB bought a new position in Alphabet during the 1st quarter valued at about $1,378,708,000. Capital International Investors grew its holdings in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings 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 valued at $1,052,349,000 after purchasing an additional 2,500,621 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Alphabet by 51.8% during the 1st 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 purchasing an additional 2,190,795 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GOOG shares. Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Barclays upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target 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. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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, November 6th. The shares were sold at an average price of $177.36, for a total value 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,052 shares of company stock valued at $38,424,448 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 4.0 %

NASDAQ:GOOG opened at $178.33 on Thursday. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The firm has a 50 day moving average of $164.24 and a 200 day moving average of $170.89. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.20 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Alphabet’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. 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.