Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 400,651 shares of the information services provider’s stock after selling 4,045 shares during the period. Alphabet makes up 2.2% of Heritage Investors Management Corp’s investment portfolio, making the stock its 7th biggest position. Heritage Investors Management Corp’s holdings in Alphabet were worth $66,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. River Road Asset Management LLC boosted its position in shares of Alphabet by 116.5% during the 3rd quarter. River Road Asset Management LLC now owns 204,856 shares of the information services provider’s stock worth $34,250,000 after acquiring an additional 110,235 shares in the last quarter. Arthur M. Cohen & Associates LLC boosted its position in shares of Alphabet by 1.5% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 135,507 shares of the information services provider’s stock worth $22,822,000 after acquiring an additional 2,039 shares in the last quarter. Hanlon Investment Management Inc. boosted its position in shares of Alphabet by 8.7% during the 3rd quarter. Hanlon Investment Management Inc. now owns 2,499 shares of the information services provider’s stock worth $418,000 after acquiring an additional 199 shares in the last quarter. Pittenger & Anderson Inc. boosted its position in shares of Alphabet by 38.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 1,788 shares of the information services provider’s stock worth $299,000 after acquiring an additional 500 shares in the last quarter. Finally, Arista Wealth Management LLC boosted its position in shares of Alphabet by 39.7% during the 3rd quarter. Arista Wealth Management LLC now owns 1,622 shares of the information services provider’s stock worth $271,000 after acquiring an additional 461 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOG shares. Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Up 0.4 %

GOOG opened at $171.41 on Wednesday. The business has a 50 day moving average price of $163.97 and a two-hundred day moving average price of $170.83. 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 company has a market cap of $2.11 trillion, a PE ratio of 22.73, a P/E/G ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 7.97 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 209,552 shares of company stock valued at $34,433,848. Corporate insiders own 12.99% of the company’s stock.

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.