Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Counterweight Ventures LLC

Counterweight Ventures LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,021 shares of the information services provider’s stock after selling 161 shares during the quarter. Alphabet accounts for 3.1% of Counterweight Ventures LLC’s investment portfolio, making the stock its 8th largest holding. Counterweight Ventures LLC’s holdings in Alphabet were worth $4,350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC increased its holdings 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 acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP bought a new position in shares of Alphabet in the second quarter valued at $40,000. Sanctuary Wealth Management L.L.C. increased its position in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP bought a new position in Alphabet in the 2nd quarter valued at about $44,000. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,471,141 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.8 %

Shares of GOOG stock opened at $175.34 on Tuesday. 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. The stock has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.22 and a beta of 1.04. The company’s fifty day simple moving average is $167.56 and its two-hundred day simple moving average is $171.80.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOG. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank initiated coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Oppenheimer upped their target price 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. UBS Group raised their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.