Thrive Wealth Management LLC Has $3.80 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Thrive Wealth Management LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,737 shares of the information services provider’s stock after selling 2,407 shares during the period. Alphabet accounts for approximately 0.7% of Thrive Wealth Management LLC’s holdings, making the stock its 18th largest position. Thrive Wealth Management LLC’s holdings in Alphabet were worth $3,801,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Azimuth Capital Investment Management LLC lifted its holdings in shares of Alphabet by 7.6% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 15,515 shares of the information services provider’s stock valued at $2,187,000 after purchasing an additional 1,090 shares in the last quarter. Kolinsky Wealth Management LLC boosted its position in Alphabet by 1.3% during the 4th quarter. Kolinsky Wealth Management LLC now owns 5,894 shares of the information services provider’s stock worth $831,000 after acquiring an additional 78 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd grew its stake in shares of Alphabet by 51.6% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 704,433 shares of the information services provider’s stock worth $99,276,000 after acquiring an additional 239,840 shares in the last quarter. Waterloo Capital L.P. raised its holdings in shares of Alphabet by 241.6% in the fourth quarter. Waterloo Capital L.P. now owns 16,788 shares of the information services provider’s stock valued at $2,366,000 after purchasing an additional 11,873 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the fourth quarter worth $68,000. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,592 shares of company stock worth $35,922,911. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOG shares. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Pivotal Research initiated coverage on Alphabet in a research note on Tuesday. They set a “buy” rating and a $215.00 price objective on the stock. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, DA Davidson raised shares of 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.75.

Alphabet Trading Up 0.8 %

Shares of GOOG stock traded up $1.35 on Friday, hitting $168.56. The company had a trading volume of 11,422,292 shares, compared to its average volume of 19,948,043. The stock’s 50-day moving average is $163.53 and its two-hundred day moving average is $168.63. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The firm has a market cap of $2.08 trillion, a P/E ratio of 25.85, 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 quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 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.