World Equity Group Inc. Sells 16,447 Shares of Alphabet Inc. (NASDAQ:GOOGL)

World Equity Group Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 47.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,336 shares of the information services provider's stock after selling 16,447 shares during the period. Alphabet accounts for approximately 1.1% of World Equity Group Inc.'s investment portfolio, making the stock its 17th biggest position. World Equity Group Inc.'s holdings in Alphabet were worth $3,041,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOGL. MorganRosel Wealth Management LLC grew its stake in shares of Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider's stock valued at $295,000 after buying an additional 57 shares during the last quarter. Hengehold Capital Management LLC lifted its position in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider's stock valued at $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after purchasing an additional 60 shares during the period. First PREMIER Bank grew its holdings in shares of Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider's stock worth $275,000 after purchasing an additional 61 shares during the last quarter. Finally, MKT Advisors LLC increased its stake in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider's stock worth $1,221,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

NASDAQ GOOGL traded up $2.81 during trading on Monday, reaching $175.30. The company's stock had a trading volume of 19,429,254 shares, compared to its average volume of 27,110,707. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The stock has a market capitalization of $2.15 trillion, a PE ratio of 23.16, a P/E/G ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a fifty day moving average of $165.61 and a 200 day moving average of $170.22.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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 $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company earned $1.55 EPS. Analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet's dividend payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. UBS Group raised their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 price target for the company. Finally, Guggenheim boosted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $205.90.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company's stock, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction on 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. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 in the last ninety days. 11.55% of the stock is owned by company 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.