Alphabet Inc. (NASDAQ:GOOG) Stake Cut by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.1% in the 4th quarter, Holdings Channel reports. The firm owned 16,396 shares of the information services provider’s stock after selling 530 shares during the quarter. Alphabet comprises about 0.9% of Elevated Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Elevated Capital Advisors LLC’s holdings in Alphabet were worth $3,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in Alphabet by 0.3% in the second quarter. Parallel Advisors LLC now owns 295,320 shares of the information services provider’s stock valued at $54,168,000 after acquiring an additional 927 shares during the period. TMD Wealth Management LLC boosted its position in Alphabet by 0.8% during the 2nd quarter. TMD Wealth Management LLC now owns 11,328 shares of the information services provider’s stock valued at $2,078,000 after purchasing an additional 87 shares during the period. Thoroughbred Financial Services LLC grew its stake in Alphabet by 22.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 101,423 shares of the information services provider’s stock worth $18,603,000 after buying an additional 18,893 shares during the last quarter. Wealthspire Advisors LLC increased its position in Alphabet by 7.3% in the second quarter. Wealthspire Advisors LLC now owns 140,844 shares of the information services provider’s stock worth $25,834,000 after buying an additional 9,613 shares during the period. Finally, Stolper Co lifted its stake in Alphabet by 1.8% in the second quarter. Stolper Co now owns 49,756 shares of the information services provider’s stock valued at $9,126,000 after buying an additional 902 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 0.5 %

Alphabet stock opened at $192.29 on Tuesday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88. The firm’s 50 day moving average price is $184.55 and its two-hundred day moving average price is $174.49. The firm has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

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

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,053 shares of company stock worth $27,559,701 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on GOOG. Citigroup upped their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. UBS Group boosted 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. JPMorgan Chase & Co. raised their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus 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.