Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,281 shares of the information services provider's stock after selling 8,219 shares during the period. Alphabet accounts for about 1.2% of Lake Street Private Wealth LLC's portfolio, making the stock its 16th largest holding. Lake Street Private Wealth LLC's holdings in Alphabet were worth $7,671,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOG. FMR LLC increased its stake in Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock worth $19,193,768,000 after buying an additional 5,655,022 shares during the period. Geode Capital Management LLC grew its stake in shares of Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock worth $17,247,208,000 after acquiring an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock worth $5,573,125,000 after acquiring an additional 3,113,395 shares in the last quarter. Jennison Associates LLC increased its position in shares of Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock worth $2,578,793,000 after acquiring an additional 1,291,274 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock valued at $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOG. Seaport Res Ptn raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. UBS Group increased their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $200.56.

Alphabet Price Performance

Alphabet stock traded up $3.14 during midday trading on Monday, reaching $197.55. 21,974,853 shares of the company were exchanged, compared to its average volume of 16,381,408. The company has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99. 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 firm's 50-day simple moving average is $185.92 and its 200-day simple moving average is $174.76. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for 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 quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's dividend payout ratio (DPR) is 10.61%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O'toole sold 2,834 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction 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 transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is currently owned by insiders.

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.