NBC Securities Inc. Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

NBC Securities Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,276 shares of the information services provider’s stock after selling 1,136 shares during the period. NBC Securities Inc.’s holdings in Alphabet were worth $5,229,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in Alphabet during the fourth quarter worth about $34,000. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the 2nd quarter worth approximately $37,000. HWG Holdings LP purchased a new position in Alphabet in the 2nd quarter valued at approximately $40,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet during the second quarter worth $44,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. UBS Group lowered their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Pivotal Research assumed coverage on shares of Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Scotiabank began coverage on shares of Alphabet in a research note on Friday. They set a “sector outperform” rating and a $212.00 price objective for the company. Four 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 stock presently has an average rating of “Moderate Buy” and an average price target of $186.90.

Insider Buying and Selling at Alphabet

In other 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 transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly 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 legal filing with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was 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 approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold 216,092 shares of company stock worth $35,644,136 in the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 0.1 %

NASDAQ GOOG traded up $0.13 during mid-day trading on Tuesday, reaching $166.48. 4,806,199 shares of the stock were exchanged, compared to its average volume of 19,668,838. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.63, 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 Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The business’s fifty day simple moving average is $162.92 and its 200 day simple moving average is $169.47.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 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.