EverSource Wealth Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,989 shares of the information services provider's stock after selling 3,238 shares during the period. EverSource Wealth Advisors LLC's holdings in Alphabet were worth $9,193,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in GOOG. China Universal Asset Management Co. Ltd. increased its holdings in shares of Alphabet by 360.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider's stock valued at $3,083,000 after acquiring an additional 15,848 shares during the period. Quent Capital LLC raised its holdings in Alphabet by 5.8% in the first quarter. Quent Capital LLC now owns 32,706 shares of the information services provider's stock worth $4,980,000 after purchasing an additional 1,798 shares in the last quarter. Empowered Funds LLC raised its holdings in Alphabet by 19.0% in the first quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider's stock worth $13,100,000 after purchasing an additional 13,756 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at about $203,000. Finally, CreativeOne Wealth LLC boosted its holdings in shares of Alphabet by 41.0% in the 1st quarter. CreativeOne Wealth LLC now owns 16,530 shares of the information services provider's stock valued at $2,516,000 after buying an additional 4,809 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
Shares of NASDAQ GOOG traded down $2.25 during trading on Wednesday, reaching $177.33. 14,912,745 shares of the company traded hands, compared to its average volume of 19,543,430. The stock has a market cap of $2.17 trillion, a P/E ratio of 23.52, a PEG ratio of 1.22 and a beta of 1.04. The firm's fifty day simple moving average is $168.65 and its 200 day simple moving average is $171.91. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced 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 company 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%. Alphabet's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet's dividend payout ratio is presently 10.61%.
Insider Buying and Selling at Alphabet
In related news, Director John L. Hennessy sold 800 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now directly owns 28,524 shares of the company's stock, valued at approximately $4,385,565. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,295 shares of company stock valued at $30,698,791. Corporate insiders own 12.99% of the company's stock.
Analyst Upgrades and Downgrades
GOOG has been the subject of several recent analyst reports. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Citigroup raised 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. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, UBS Group boosted their price target on Alphabet from $187.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $200.56.
Check Out Our Latest Stock Report on GOOG
About Alphabet
(
Free Report)
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.
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