Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Lowered by Advisor Resource Council

Advisor Resource Council trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 10.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,769 shares of the information services provider’s stock after selling 2,029 shares during the quarter. Alphabet makes up approximately 1.3% of Advisor Resource Council’s portfolio, making the stock its 15th largest position. Advisor Resource Council’s holdings in Alphabet were worth $2,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Architects LLC increased its stake in Alphabet by 3.3% in the 3rd quarter. Wealth Architects LLC now owns 15,734 shares of the information services provider’s stock valued at $2,631,000 after buying an additional 509 shares during the period. Blake Schutter Theil Wealth Advisors LLC bought a new stake in Alphabet in the third quarter worth approximately $1,285,000. Prudent Investors Network Inc. raised its holdings in shares of Alphabet by 71.9% during the 3rd quarter. Prudent Investors Network Inc. now owns 2,488 shares of the information services provider’s stock valued at $416,000 after purchasing an additional 1,041 shares in the last quarter. M&G PLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at $2,240,000. Finally, Concurrent Investment Advisors LLC boosted its holdings in Alphabet by 6.5% in the third quarter. Concurrent Investment Advisors LLC now owns 106,768 shares of the information services provider’s stock worth $17,851,000 after purchasing an additional 6,529 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Five research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’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 transaction, the senior vice president now directly owns 312,210 shares in the company, 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. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,052 shares of company stock valued at $38,424,448. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 4.0 %

Alphabet stock opened at $178.33 on Thursday. 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 firm has a 50-day moving average of $164.24 and a 200-day moving average of $170.89. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a market cap of $2.20 trillion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.20 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed 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 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.