Alphabet Inc. (NASDAQ:GOOG) Shares Sold by USA Financial Formulas

USA Financial Formulas reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 12,249 shares of the information services provider’s stock after selling 755 shares during the quarter. Alphabet makes up about 0.3% of USA Financial Formulas’ holdings, making the stock its 16th largest position. USA Financial Formulas’ holdings in Alphabet were worth $2,048,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Wedmont Private Capital lifted its holdings in Alphabet by 2.3% during the 3rd quarter. Wedmont Private Capital now owns 83,762 shares of the information services provider’s stock worth $13,770,000 after buying an additional 1,909 shares during the last quarter. Marcum Wealth LLC increased its stake in Alphabet by 2.4% during the third quarter. Marcum Wealth LLC now owns 18,156 shares of the information services provider’s stock valued at $3,035,000 after purchasing an additional 430 shares during the last quarter. CWM LLC raised its holdings in shares of Alphabet by 0.9% during the third quarter. CWM LLC now owns 313,837 shares of the information services provider’s stock worth $52,470,000 after purchasing an additional 2,831 shares during the period. West Financial Advisors LLC lifted its position in shares of Alphabet by 20.2% in the 3rd quarter. West Financial Advisors LLC now owns 2,403 shares of the information services provider’s stock worth $402,000 after buying an additional 403 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in shares of Alphabet by 3.7% in the 3rd quarter. Daymark Wealth Partners LLC now owns 109,335 shares of the information services provider’s stock worth $18,280,000 after buying an additional 3,908 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Pivotal Research assumed coverage on Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $184.11.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the company’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 directly owns 29,324 shares in the company, valued at $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 217,592 shares of company stock worth $35,922,911 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG opened at $163.06 on Thursday. The firm has a market capitalization of $2.02 trillion, a PE ratio of 25.01, a P/E/G ratio of 1.21 and a beta of 1.04. 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 50-day moving average price of $163.07 and a 200 day moving average price of $169.07. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the firm posted $1.44 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis 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%.

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.