Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Baron Wealth Management LLC

Baron Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,370 shares of the information services provider’s stock after selling 253 shares during the period. Baron Wealth Management LLC’s holdings in Alphabet were worth $731,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC raised its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet during the second quarter worth $37,000. HWG Holdings LP acquired a new stake in shares of Alphabet during the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet during the second quarter worth $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,471,141 over the last three months. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer upped their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. 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 company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Up 1.7 %

Shares of GOOG stock opened at $176.80 on Tuesday. The stock has a market cap of $2.16 trillion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The stock has a fifty day moving average price of $167.56 and a 200 day moving average price of $171.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date 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%.

Alphabet 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.