Invst LLC Has $2.06 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Invst LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,323 shares of the information services provider’s stock after selling 2,085 shares during the period. Invst LLC’s holdings in Alphabet were worth $2,060,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GOOG. Citizens Business Bank increased its holdings in shares of Alphabet by 1.1% during the third quarter. Citizens Business Bank now owns 7,605 shares of the information services provider’s stock valued at $1,271,000 after acquiring an additional 80 shares in the last quarter. Discipline Wealth Solutions LLC purchased a new stake in Alphabet in the 3rd quarter worth $469,000. Soltis Investment Advisors LLC grew its holdings in shares of Alphabet by 22.3% in the third quarter. Soltis Investment Advisors LLC now owns 20,720 shares of the information services provider’s stock valued at $3,464,000 after purchasing an additional 3,772 shares in the last quarter. Hobbs Group Advisors LLC increased its stake in Alphabet by 4.8% during the third quarter. Hobbs Group Advisors LLC now owns 3,544 shares of the information services provider’s stock worth $593,000 after acquiring an additional 162 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Alphabet by 2.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 35,066 shares of the information services provider’s stock worth $5,863,000 after purchasing an additional 796 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,923 shares of company stock valued at $34,244,676. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOG. Barclays boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $186.53 on Wednesday. The business has a fifty day simple moving average of $171.26 and a 200 day simple moving average of $171.73. 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 Inc. has a 1 year low of $131.06 and a 1 year high of $193.31. The firm has a market cap of $2.28 trillion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 1.23 and a beta of 1.02.

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 the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is currently 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.