Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Lowered by FMB Wealth Management

FMB Wealth Management cut its position in Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,457 shares of the information services provider’s stock after selling 110 shares during the quarter. FMB Wealth Management’s holdings in Alphabet were worth $578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Costello Asset Management INC raised its holdings in shares of Alphabet by 2.3% during the third quarter. Costello Asset Management INC now owns 29,710 shares of the information services provider’s stock valued at $4,967,000 after buying an additional 660 shares during the last quarter. Summit Wealth & Retirement Planning Inc. raised its stake in Alphabet by 3.2% during the 3rd quarter. Summit Wealth & Retirement Planning Inc. now owns 5,164 shares of the information services provider’s stock valued at $863,000 after acquiring an additional 160 shares in the last quarter. Austin Asset Management Co Inc raised its stake in Alphabet by 28.6% during the 3rd quarter. Austin Asset Management Co Inc now owns 2,744 shares of the information services provider’s stock valued at $459,000 after acquiring an additional 610 shares in the last quarter. RKL Wealth Management LLC boosted its position in Alphabet by 10.0% during the 3rd quarter. RKL Wealth Management LLC now owns 5,170 shares of the information services provider’s stock worth $864,000 after acquiring an additional 472 shares during the period. Finally, Objective Capital Management LLC bought a new position in shares of Alphabet in the third quarter worth $750,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 1.3 %

GOOG stock opened at $179.86 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.20 trillion, a P/E ratio of 23.85, a P/E/G ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The company’s 50 day simple moving average is $164.92 and its 200-day simple moving average is $171.20.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given 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 yield of 0.44%. Alphabet’s payout ratio is presently 10.61%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped 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 raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred 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 transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,752 shares of company stock valued at $40,156,829 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

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.