Strategic Wealth Partners Ltd. Has $4.80 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Strategic Wealth Partners Ltd. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 28,711 shares of the information services provider’s stock after selling 1,980 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Alphabet were worth $4,800,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Unigestion Holding SA raised its stake in Alphabet by 8.1% during the fourth quarter. Unigestion Holding SA now owns 11,322 shares of the information services provider’s stock worth $1,596,000 after buying an additional 851 shares during the last quarter. VitalStone Financial LLC lifted its stake in shares of Alphabet by 40.5% in the 4th quarter. VitalStone Financial LLC now owns 1,089 shares of the information services provider’s stock valued at $153,000 after purchasing an additional 314 shares during the period. Visionary Wealth Advisors boosted its position in shares of Alphabet by 6.2% during the 4th quarter. Visionary Wealth Advisors now owns 17,099 shares of the information services provider’s stock valued at $2,410,000 after purchasing an additional 1,005 shares in the last quarter. Rench Wealth Management Inc. grew its stake in Alphabet by 0.8% during the fourth quarter. Rench Wealth Management Inc. now owns 46,421 shares of the information services provider’s stock worth $6,542,000 after purchasing an additional 352 shares during the period. Finally, Ethic Inc. increased its holdings in Alphabet by 4.5% in the fourth quarter. Ethic Inc. now owns 366,679 shares of the information services provider’s stock worth $51,676,000 after purchasing an additional 15,905 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. UBS Group reduced their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday. Oppenheimer dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Pivotal Research began coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $184.11.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock worth $35,922,911 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.8 %

Shares of NASDAQ:GOOG opened at $165.70 on Wednesday. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a market capitalization of $2.05 trillion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The business has a fifty day moving average price of $163.27 and a two-hundred day moving average price of $169.12. 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 issued 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 for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. Analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. 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.