Howe & Rusling Inc. Has $12.01 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Howe & Rusling Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,860 shares of the information services provider's stock after acquiring an additional 2,832 shares during the period. Howe & Rusling Inc.'s holdings in Alphabet were worth $12,014,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. M&G PLC purchased a new position in shares of Alphabet in the 3rd quarter valued at about $2,240,000. Colonial River Wealth Management LLC increased its stake in Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider's stock worth $390,000 after acquiring an additional 107 shares during the last quarter. Metis Global Partners LLC lifted its stake in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider's stock worth $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider's stock worth $10,624,000 after purchasing an additional 5,892 shares during the period. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Alphabet by 4.6% in the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider's stock worth $2,097,000 after acquiring an additional 498 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Alphabet stock traded down $2.25 on Wednesday, reaching $177.33. 14,881,863 shares of the stock were exchanged, compared to its average volume of 19,539,752. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.17 trillion, a PE ratio of 23.45, a PEG ratio of 1.22 and a beta of 1.04. The firm has a fifty day moving average price of $168.15 and a two-hundred day moving average price of $171.87.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. Sell-side 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. Stockholders of record on Monday, December 9th will be issued 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 is Monday, December 9th. Alphabet's payout ratio is 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company's stock, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,295 shares of company stock worth $30,698,791 over the last quarter. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

GOOG has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Citigroup lifted their price objective on Alphabet from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. 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. Finally, Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.56.

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.