STF Management LP reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,067 shares of the information services provider's stock after selling 3,756 shares during the quarter. Alphabet makes up about 2.3% of STF Management LP's holdings, making the stock its 10th biggest holding. STF Management LP's holdings in Alphabet were worth $5,194,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in GOOG. M&G PLC bought a new position in Alphabet in the 3rd quarter worth about $2,240,000. Colonial River Wealth Management LLC lifted its stake in shares of Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider's stock worth $390,000 after purchasing an additional 107 shares during the period. Metis Global Partners LLC lifted its stake in shares of Alphabet by 1.4% in the 3rd 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 during the period. Verdence Capital Advisors LLC increased its holdings in Alphabet by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider's stock worth $10,624,000 after acquiring an additional 5,892 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its holdings in Alphabet by 4.6% in the 2nd 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.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 over the last quarter. Insiders own 12.99% of the company's stock.
Wall Street Analyst Weigh In
GOOG has been the subject of several analyst reports. Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Canaccord Genuity Group increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $200.56.
Check Out Our Latest Stock Report on GOOG
Alphabet Stock Down 1.6 %
Shares of Alphabet stock traded down $2.67 during trading on Friday, hitting $166.57. 24,370,737 shares of the stock traded hands, compared to its average volume of 19,647,506. The firm has a market cap of $2.04 trillion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.26 and a beta of 1.04. 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 52-week low of $129.40 and a 52-week high of $193.31. The stock's fifty day simple moving average is $168.93 and its 200 day simple moving average is $171.90.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet's dividend payout ratio (DPR) is presently 10.61%.
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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