TRUE Private Wealth Advisors Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

TRUE Private Wealth Advisors lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 28.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,550 shares of the information services provider’s stock after selling 4,522 shares during the period. TRUE Private Wealth Advisors’ holdings in Alphabet were worth $1,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Twelve Points Wealth Management LLC raised its position in Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after buying an additional 55 shares during the last quarter. PCG Wealth Advisors LLC lifted its position in Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV boosted its holdings in Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV grew its position in Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after purchasing an additional 58 shares during the period. Finally, Shira Ridge Wealth Management raised its stake in shares of Alphabet by 0.4% during the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after buying an additional 60 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.2 %

Shares of GOOG stock opened at $170.49 on Friday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s fifty day moving average is $169.98 and its two-hundred day moving average is $171.84. The firm has a market capitalization of $2.09 trillion, a P/E ratio of 22.61, a PEG ratio of 1.19 and a beta of 1.04.

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, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the firm posted $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on GOOG shares. Pivotal Research raised their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. UBS Group raised their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five investment 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 stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value 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 approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % 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 over the last ninety days. 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.