Primoris Wealth Advisors LLC Sells 250 Shares of Alphabet Inc. (NASDAQ:GOOG)

Primoris Wealth Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 17,875 shares of the information services provider’s stock after selling 250 shares during the period. Alphabet accounts for approximately 2.1% of Primoris Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. Primoris Wealth Advisors LLC’s holdings in Alphabet were worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Abich Financial Wealth Management LLC raised its position in shares of Alphabet by 9,200.0% during the second 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 during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet during the second quarter valued at $37,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter valued at $40,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet in the 2nd quarter worth $44,000. Finally, Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during 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 news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the sale, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 242,552 shares of company stock valued at $40,287,253 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.3 %

Shares of NASDAQ:GOOG opened at $179.86 on Friday. The firm has a market capitalization of $2.20 trillion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.25 and a beta of 1.04. The business has a 50 day simple moving average of $164.92 and a two-hundred day simple moving average of $171.12. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Alphabet’s revenue was up 15.1% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Barclays upped their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $200.56.

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.