Raymond James Trust N.A. Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Raymond James Trust N.A. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 322,556 shares of the information services provider’s stock after selling 4,587 shares during the period. Alphabet accounts for 1.2% of Raymond James Trust N.A.’s portfolio, making the stock its 10th largest position. Raymond James Trust N.A.’s holdings in Alphabet were worth $53,928,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GOOG. Abich Financial Wealth Management LLC grew its position in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the second quarter valued at approximately $37,000. HWG Holdings LP purchased a new position in Alphabet in the 2nd quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. lifted its position in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP purchased a new stake in Alphabet during the 2nd quarter valued at $44,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 4.4 %

GOOG stock opened at $169.49 on Friday. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The firm’s 50-day moving average is $168.93 and its 200 day moving average is $171.90. The company has a market capitalization of $2.07 trillion, a PE ratio of 22.48, a P/E/G ratio of 1.26 and a beta of 1.04. 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 posted its quarterly 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. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research analyst reports. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup lifted their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,673,866 in the last three months. 12.99% of the stock is owned by 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.