Alphabet Inc. (NASDAQ:GOOG) Stake Lowered by Dakota Wealth Management

Dakota Wealth Management reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 180,124 shares of the information services provider’s stock after selling 4,048 shares during the period. Dakota Wealth Management’s holdings in Alphabet were worth $30,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Woodard & Co. Asset Management Group Inc. ADV grew its position in Alphabet by 9.1% in the 3rd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 18,776 shares of the information services provider’s stock worth $3,139,000 after purchasing an additional 1,561 shares during the last quarter. DT Investment Partners LLC grew its holdings in Alphabet by 0.5% in the 3rd quarter. DT Investment Partners LLC now owns 19,948 shares of the information services provider’s stock worth $3,335,000 after buying an additional 108 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after buying an additional 2,500,621 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in Alphabet by 14.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 5,446 shares of the information services provider’s stock valued at $911,000 after acquiring an additional 675 shares during the period. Finally, Mason & Associates Inc increased its stake in Alphabet by 121.2% during the 3rd quarter. Mason & Associates Inc now owns 15,425 shares of the information services provider’s stock valued at $2,579,000 after buying an additional 8,452 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.5 %

Shares of NASDAQ GOOG opened at $166.99 on Friday. The business has a 50 day simple moving average of $163.31 and a 200 day simple moving average of $169.88. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG 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 posted its 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated 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 directly owns 29,183 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now directly owns 28,524 shares of the company’s stock, valued at $4,385,565. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 over the last three months. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Cowen raised their price objective 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. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. UBS Group decreased their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Oppenheimer decreased their target price 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, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

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.