GLOBALT Investments LLC GA Sells 461 Shares of Alphabet Inc. (NASDAQ:GOOG)

GLOBALT Investments LLC GA reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,295 shares of the information services provider’s stock after selling 461 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Alphabet were worth $4,396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. M&G PLC purchased a new position in shares of Alphabet during the 3rd quarter worth approximately $2,240,000. Colonial River Wealth Management LLC increased its stake in shares of Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 107 shares in the last quarter. Metis Global Partners LLC increased its stake in shares of Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after purchasing an additional 5,892 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after purchasing an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Trading Down 2.0 %

NASDAQ:GOOG opened at $173.89 on Monday. The firm has a 50 day moving average of $167.01 and a 200 day moving average of $171.74. 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 52 week low of $129.40 and a 52 week high of $193.31. The stock has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,471,141 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.