Alphabet Inc. (NASDAQ:GOOG) Position Trimmed by LVW Advisors LLC

LVW Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 37,716 shares of the information services provider’s stock after selling 138 shares during the period. Alphabet comprises about 0.8% of LVW Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. LVW Advisors LLC’s holdings in Alphabet were worth $6,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Richardson Financial Services Inc. acquired a new position in Alphabet in the 4th quarter worth approximately $34,000. Abich Financial Wealth Management LLC boosted its stake in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the 2nd quarter worth approximately $37,000. HWG Holdings LP acquired a new position in Alphabet in the 2nd quarter worth approximately $40,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet in the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 0.9 %

Shares of Alphabet stock traded up $1.41 during midday trading on Friday, reaching $164.59. 3,225,786 shares of the company’s stock traded hands, compared to its average volume of 19,754,268. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company’s 50 day simple moving average is $162.89 and its 200 day simple moving average is $169.03. 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 Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced 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. The firm 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 business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. Equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 11.48%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares in the company, valued at $4,385,565. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock worth $35,644,136 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on GOOG. Scotiabank began coverage on shares of Alphabet in a research note on Friday. They issued a “sector outperform” rating and a $212.00 price objective for the company. Oppenheimer decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. TD Cowen lifted 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, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

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.