Alphabet Inc. (NASDAQ:GOOG) Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,927 shares of the information services provider’s stock after selling 73 shares during the period. JGP Wealth Management LLC’s holdings in Alphabet were worth $824,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. DLK Investment Management LLC grew its position in Alphabet by 1.8% in the 3rd quarter. DLK Investment Management LLC now owns 67,148 shares of the information services provider’s stock valued at $11,226,000 after buying an additional 1,212 shares during the last quarter. Castle Rock Wealth Management LLC raised its stake in Alphabet by 1.2% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 41,724 shares of the information services provider’s stock valued at $6,984,000 after purchasing an additional 499 shares during the last quarter. Guild Investment Management Inc. increased its stake in shares of Alphabet by 3.5% during the 3rd quarter. Guild Investment Management Inc. now owns 16,233 shares of the information services provider’s stock valued at $2,714,000 after acquiring an additional 552 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of Alphabet by 6.6% during the 3rd quarter. Independence Bank of Kentucky now owns 9,496 shares of the information services provider’s stock valued at $1,588,000 after acquiring an additional 585 shares during the last quarter. Finally, Rappaport Reiches Capital Management LLC boosted its position in Alphabet by 1.2% during the 3rd quarter. Rappaport Reiches Capital Management LLC now owns 14,226 shares of the information services provider’s stock worth $2,379,000 after purchasing an additional 166 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,092 shares of company stock worth $35,644,136. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of analyst reports. Pivotal Research initiated coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Scotiabank began coverage on Alphabet in a research report on Friday. They set a “sector outperform” rating and a $212.00 price objective for the company. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Oppenheimer dropped their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Stock Up 0.9 %

GOOG stock traded up $1.54 during midday trading on Friday, hitting $164.72. The company’s stock had a trading volume of 4,700,626 shares, compared to its average volume of 19,761,756. The company’s fifty day moving average price is $162.89 and its 200 day moving average price is $169.03. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The stock has a market capitalization of $2.03 trillion, a P/E ratio of 23.61, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 11.48%.

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.