Doliver Advisors LP Sells 3,386 Shares of Alphabet Inc. (NASDAQ:GOOG)

Doliver Advisors LP trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.1% during the third quarter, HoldingsChannel.com reports. The fund owned 44,086 shares of the information services provider’s stock after selling 3,386 shares during the period. Alphabet makes up approximately 2.0% of Doliver Advisors LP’s holdings, making the stock its 5th biggest position. Doliver Advisors LP’s holdings in Alphabet were worth $7,371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Annex Advisory Services LLC grew its holdings in shares of Alphabet by 2.7% during the fourth quarter. Annex Advisory Services LLC now owns 6,767 shares of the information services provider’s stock valued at $954,000 after buying an additional 177 shares in the last quarter. Exencial Wealth Advisors LLC grew its holdings in shares of Alphabet by 3.6% during the fourth quarter. Exencial Wealth Advisors LLC now owns 243,135 shares of the information services provider’s stock valued at $34,265,000 after buying an additional 8,509 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of Alphabet by 1.5% during the fourth quarter. Stephens Inc. AR now owns 267,512 shares of the information services provider’s stock valued at $37,701,000 after buying an additional 3,935 shares in the last quarter. Baldwin Investment Management LLC grew its holdings in shares of Alphabet by 2.6% during the fourth quarter. Baldwin Investment Management LLC now owns 16,865 shares of the information services provider’s stock valued at $2,377,000 after buying an additional 425 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Alphabet by 2.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,319,757 shares of the information services provider’s stock valued at $890,643,000 after buying an additional 146,054 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 217,592 shares of company stock worth $35,922,911. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $167.31 on Thursday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The business has a 50-day moving average of $163.57 and a two-hundred day moving average of $168.50. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 25.66, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is presently 12.27%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GOOG shares. TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Oppenheimer reduced their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Finally, DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.75.

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.