Executive Wealth Management LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Executive Wealth Management LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,341 shares of the information services provider’s stock after selling 90 shares during the quarter. Executive Wealth Management LLC’s holdings in Alphabet were worth $3,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Windward Capital Management Co. CA lifted its stake in shares of Alphabet by 1.5% in the 3rd quarter. Windward Capital Management Co. CA now owns 302,145 shares of the information services provider’s stock worth $50,516,000 after acquiring an additional 4,426 shares during the period. Provident Trust Co. grew its position in shares of Alphabet by 1.0% in the third quarter. Provident Trust Co. now owns 3,496,803 shares of the information services provider’s stock valued at $584,630,000 after purchasing an additional 35,123 shares during the last quarter. First Fiduciary Investment Counsel Inc. increased its position in Alphabet by 13.4% during the third quarter. First Fiduciary Investment Counsel Inc. now owns 1,690 shares of the information services provider’s stock worth $283,000 after buying an additional 200 shares in the last quarter. Pragma Gestao DE Patrimonio Ltd. raised its stake in Alphabet by 27.9% in the 3rd quarter. Pragma Gestao DE Patrimonio Ltd. now owns 78,000 shares of the information services provider’s stock valued at $13,041,000 after purchasing an additional 17,000 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of Alphabet in the third quarter valued at approximately $25,937,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.3 %

GOOG opened at $179.86 on Friday. The stock’s fifty day moving average is $164.92 and its 200-day moving average is $171.12. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a market capitalization of $2.20 trillion, a PE ratio of 23.85, a P/E/G ratio of 1.25 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current 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 for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities analysts predict 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 given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’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 sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’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 completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. 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. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on GOOG. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.