Stonebridge Financial Planning Group LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Stonebridge Financial Planning Group LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,369 shares of the information services provider’s stock after selling 212 shares during the quarter. Stonebridge Financial Planning Group LLC’s holdings in Alphabet were worth $1,065,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC raised its holdings 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 stake in shares of Alphabet in the second quarter valued at approximately $37,000. HWG Holdings LP purchased a new stake in Alphabet in the 2nd quarter valued at $40,000. Sanctuary Wealth Management L.L.C. raised its stake in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 1.0 %

Shares of NASDAQ GOOG traded down $1.87 during mid-day trading on Wednesday, hitting $177.71. 1,009,674 shares of the company traded hands, compared to its average volume of 19,474,795. The business has a 50 day moving average of $168.15 and a two-hundred day moving average of $171.87. The stock has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, 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 SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 184,295 shares of company stock valued at $30,698,791. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOG. Scotiabank began coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group lifted their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.