Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Hilton Capital Management LLC

Hilton Capital Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 69.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,631 shares of the information services provider's stock after selling 138,455 shares during the quarter. Hilton Capital Management LLC's holdings in Alphabet were worth $9,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Abich Financial Wealth Management LLC grew its stake in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider's stock valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the 2nd quarter valued at $40,000. Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider's stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP purchased a new position in Alphabet in the second quarter worth $44,000. Institutional investors own 27.26% of the company's stock.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now owns 2,137,385 shares of the company's stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,295 shares of company stock valued at $30,698,791 over the last quarter. Insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GOOG shares. Seaport Res Ptn upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Pivotal Research upped their price objective 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. Wells Fargo & Company boosted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald upgraded shares of Alphabet to a "hold" rating in a report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $200.56.

Alphabet Price Performance

Shares of Alphabet stock traded down $2.25 during trading hours on Wednesday, reaching $177.33. 14,881,863 shares of the company's stock were exchanged, compared to its average volume of 19,539,752. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The business has a fifty day moving average of $168.15 and a two-hundred day moving average of $171.87. The company has a market capitalization of $2.17 trillion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts' expectations 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 last year, the company earned $1.55 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.

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.