Fisher Asset Management LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Fisher Asset Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,588,951 shares of the information services provider’s stock after selling 58,917 shares during the period. Fisher Asset Management LLC’s holdings in Alphabet were worth $432,847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the second quarter worth about $37,000. HWG Holdings LP acquired a new stake in shares of Alphabet during the second quarter worth about $40,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet in the second quarter valued at approximately $44,000. Finally, Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOG opened at $166.57 on Monday. The stock’s 50-day moving average price is $169.10 and its 200 day moving average price is $171.87. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.16 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

GOOG has been the subject of several research reports. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet 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.