Abner Herrman & Brock LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Abner Herrman & Brock LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,014 shares of the information services provider’s stock after purchasing an additional 197 shares during the period. Alphabet makes up about 2.5% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 16th largest position. Abner Herrman & Brock LLC’s holdings in Alphabet were worth $20,399,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. CWM LLC grew its stake in Alphabet by 0.9% during the 3rd quarter. CWM LLC now owns 313,837 shares of the information services provider’s stock valued at $52,470,000 after purchasing an additional 2,831 shares in the last quarter. West Financial Advisors LLC boosted its stake in shares of Alphabet by 20.2% during the 3rd quarter. West Financial Advisors LLC now owns 2,403 shares of the information services provider’s stock valued at $402,000 after buying an additional 403 shares during the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of Alphabet by 3.7% during the 3rd quarter. Daymark Wealth Partners LLC now owns 109,335 shares of the information services provider’s stock valued at $18,280,000 after buying an additional 3,908 shares during the last quarter. Saxon Interests Inc. grew its position in shares of Alphabet by 26.3% during the third quarter. Saxon Interests Inc. now owns 2,925 shares of the information services provider’s stock worth $489,000 after buying an additional 610 shares in the last quarter. Finally, Objectivity Squared LLC increased its stake in shares of Alphabet by 1.4% in the third quarter. Objectivity Squared LLC now owns 16,200 shares of the information services provider’s stock worth $2,663,000 after buying an additional 225 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 1.6 %

NASDAQ:GOOG opened at $163.06 on Thursday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50 day simple moving average of $163.27 and a 200 day simple moving average of $169.12. The firm has a market capitalization of $2.02 trillion, a P/E ratio of 25.01, a P/E/G 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. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Analyst Ratings Changes

A number of research analysts have commented on GOOG shares. Oppenheimer reduced their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. UBS Group decreased their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.11.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’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 sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The shares were 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 owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were 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 approximately $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,592 shares of company stock valued at $35,922,911. Insiders own 12.99% of the company’s stock.

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.