Alphabet Inc. (NASDAQ:GOOGL) is FRG Family Wealth Advisors LLC’s 9th Largest Position

FRG Family Wealth Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,345 shares of the information services provider’s stock after selling 1,215 shares during the quarter. Alphabet accounts for 2.9% of FRG Family Wealth Advisors LLC’s portfolio, making the stock its 9th largest position. FRG Family Wealth Advisors LLC’s holdings in Alphabet were worth $16,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP purchased a new position in Alphabet in the 3rd quarter worth about $32,000. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter valued at $41,000. Finally, Quarry LP acquired a new position in Alphabet during the second quarter valued at $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,129,306 shares in the company, valued at $355,743,153.42. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock worth $31,358,687 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.6 %

Shares of NASDAQ GOOGL opened at $195.42 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.39 and a beta of 1.01. The business’s 50 day moving average price is $172.93 and its 200-day moving average price is $170.97. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the company posted $1.55 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, October 24th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Roth Mkm raised their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $206.08.

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.