Orca Investment Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,443 shares of the information services provider’s stock after selling 2,445 shares during the period. Alphabet accounts for 6.3% of Orca Investment Management LLC’s investment portfolio, making the stock its 3rd biggest position. Orca Investment Management LLC’s holdings in Alphabet were worth $6,929,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Twelve Points Wealth Management LLC boosted its position in shares of Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after acquiring an additional 55 shares during the last quarter. PCG Wealth Advisors LLC boosted its position in shares of Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after acquiring an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV boosted its position in shares of Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after acquiring an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV boosted its position in shares of Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after acquiring an additional 58 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its position in shares of Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on GOOG. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, Pivotal Research assumed coverage on shares of Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. Four equities research 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.
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock valued at $35,644,136 over the last three months. 12.99% of the stock is currently owned by company insiders.
Alphabet Stock Performance
Shares of Alphabet stock opened at $164.52 on Monday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.03 trillion, a P/E ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The firm’s 50 day moving average is $162.81 and its two-hundred day moving average is $169.37. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued 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 of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.
About Alphabet
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.
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