Oppenheimer & Co. Inc. Sells 7,965 Shares of Alphabet Inc. (NASDAQ:GOOG)

Oppenheimer & Co. Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 428,361 shares of the information services provider's stock after selling 7,965 shares during the quarter. Alphabet comprises approximately 1.1% of Oppenheimer & Co. Inc.'s portfolio, making the stock its 10th biggest position. Oppenheimer & Co. Inc.'s holdings in Alphabet were worth $71,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Twelve Points Wealth Management LLC lifted its stake in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider's stock worth $1,465,000 after acquiring an additional 55 shares during the period. 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 buying an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV increased its holdings in shares of Alphabet by 1.6% during 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 acquiring an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV increased its holdings in shares of Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider's stock valued at $540,000 after acquiring an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider's stock worth $91,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 1.7 %

Shares of NASDAQ GOOG traded down $3.14 during mid-day trading on Thursday, reaching $177.35. 17,905,270 shares of the company were exchanged, compared to its average volume of 19,573,291. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 1.29 and a beta of 1.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The firm has a 50-day moving average of $166.20 and a 200 day moving average of $171.57.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued 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 firm had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. On average, research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid 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 dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOG. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Alphabet from $208.00 to $212.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on Alphabet from $185.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $200.56.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 207,495 shares of company stock worth $34,586,641 in the last three months. 12.99% of the stock is owned by insiders.

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.