GLOBALT Investments LLC GA Has $4.40 Million Position in Alphabet Inc. (NASDAQ:GOOG)

GLOBALT Investments LLC GA reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,295 shares of the information services provider’s stock after selling 461 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Alphabet were worth $4,396,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GOOG. M&G PLC acquired a new stake in shares of Alphabet during the 3rd quarter worth about $2,240,000. Colonial River Wealth Management LLC raised its stake in shares of Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 107 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares in the last quarter. Verdence Capital Advisors LLC grew its position in Alphabet by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after acquiring an additional 5,892 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its holdings in Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Citigroup upped their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Trading Down 2.0 %

NASDAQ:GOOG opened at $173.89 on Monday. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.22 and a beta of 1.04. The firm has a fifty day simple moving average of $167.01 and a two-hundred day simple moving average of $171.74.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the previous year, the business posted $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock worth $34,471,141. 12.99% of the stock is owned by corporate insiders.

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.