Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Glen Eagle Advisors LLC

Glen Eagle Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,691 shares of the information services provider’s stock after selling 121 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Alphabet were worth $1,119,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Curated Wealth Partners LLC boosted its position in shares of Alphabet by 205.5% in the 2nd quarter. Curated Wealth Partners LLC now owns 4,573 shares of the information services provider’s stock valued at $839,000 after purchasing an additional 8,909 shares during the period. Capital CS Group LLC purchased a new stake in shares of Alphabet in the second quarter valued at about $626,000. IAM Advisory LLC boosted its stake in shares of Alphabet by 252.9% during the second quarter. IAM Advisory LLC now owns 13,740 shares of the information services provider’s stock worth $2,520,000 after buying an additional 9,847 shares during the period. Biltmore Wealth Management LLC increased its position in Alphabet by 107.7% in the 2nd quarter. Biltmore Wealth Management LLC now owns 4,030 shares of the information services provider’s stock valued at $739,000 after acquiring an additional 2,090 shares during the period. Finally, Retirement Planning Group LLC raised its stake in Alphabet by 35.8% during the 2nd quarter. Retirement Planning Group LLC now owns 7,003 shares of the information services provider’s stock valued at $1,285,000 after acquiring an additional 1,848 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Pivotal Research boosted 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. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Transactions at Alphabet

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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,624 shares of company stock valued at $27,803,730 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $176.49 on Friday. The company has a market cap of $2.16 trillion, a P/E ratio of 23.41, a P/E/G ratio of 1.23 and a beta of 1.02. The firm’s 50 day moving average is $170.84 and its two-hundred day moving average is $171.82. Alphabet Inc. has a fifty-two week low of $131.06 and a fifty-two week high of $193.31. 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 (NASDAQ:GOOG) last posted its quarterly earnings results 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. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Alphabet Company 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.