Independent Solutions Wealth Management LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Independent Solutions Wealth Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,083 shares of the information services provider’s stock after selling 245 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Alphabet were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 0.3% during the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after buying an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after buying an additional 3,113,395 shares in the last quarter. Jennison Associates LLC increased its position in shares of Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after acquiring an additional 636,008 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on GOOG shares. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays increased their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares in the company, valued at $4,590,960. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,957 shares of company stock worth $31,358,687. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

GOOG stock traded up $1.40 during midday trading on Thursday, hitting $191.55. The stock had a trading volume of 13,469,275 shares, compared to its average volume of 19,736,434. The stock has a 50-day simple moving average of $175.04 and a 200 day simple moving average of $172.61. The firm has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 1.38 and a beta of 1.02. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $202.88. 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 released its quarterly earnings data 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Alphabet Company 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.