Patton Albertson Miller Group LLC Sells 480 Shares of Alphabet Inc. (NASDAQ:GOOG)

Patton Albertson Miller Group LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,765 shares of the information services provider’s stock after selling 480 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Alphabet were worth $2,363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC bought a new position in Alphabet in the 4th quarter valued at approximately $11,600,970,000. FMR LLC boosted its position in Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Alphabet by 198.7% during the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after buying an additional 2,583,128 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Alphabet by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after buying an additional 2,222,950 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 252,629 shares of company stock valued at $37,091,240. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 0.2 %

NASDAQ GOOG traded up $0.42 during trading hours on Thursday, hitting $171.58. 11,914,729 shares of the company’s stock were exchanged, compared to its average volume of 22,523,879. Alphabet Inc. has a 1-year low of $108.48 and a 1-year high of $176.42. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a 50-day simple moving average of $153.41 and a 200 day simple moving average of $144.40. The firm has a market cap of $2.12 trillion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the previous year, the company earned $1.17 EPS. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th. Alphabet’s payout ratio is 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.