Weybosset Research & Management LLC Sells 100 Shares of Alphabet Inc. (NASDAQ:GOOG)

Weybosset Research & Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.4% during the third quarter, Holdings Channel reports. The institutional investor owned 1,460 shares of the information services provider’s stock after selling 100 shares during the period. Weybosset Research & Management LLC’s holdings in Alphabet were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors boosted its position in shares of Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. JPMorgan Chase & Co. boosted its holdings in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the period. Capital World Investors boosted its holdings in Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after buying an additional 979,083 shares during the period. Capital Research Global Investors increased its stake in Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after buying an additional 684,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Alphabet by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after acquiring an additional 636,008 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $167.31 on Thursday. The firm has a fifty day simple moving average of $163.57 and a two-hundred day simple moving average of $168.50. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. 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 stock has a market capitalization of $2.07 trillion, a P/E ratio of 25.66, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter last year, the business posted $1.44 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 7.63 earnings per share 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. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is presently 12.27%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. Oppenheimer cut their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Pivotal Research assumed coverage on shares of Alphabet in a report on Tuesday. They set a “buy” rating and a $215.00 price objective for the company. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $183.75.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock worth $35,922,911 over the last three months. 12.99% of the stock is owned by insiders.

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.