Activest Wealth Management Purchases 158 Shares of Alphabet Inc. (NASDAQ:GOOG)

Activest Wealth Management grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,190 shares of the information services provider’s stock after purchasing an additional 158 shares during the quarter. Activest Wealth Management’s holdings in Alphabet were worth $1,035,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its holdings in shares of Alphabet by 360.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after purchasing an additional 15,848 shares during the period. Quent Capital LLC grew its holdings in shares of Alphabet by 5.8% during the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after purchasing an additional 1,798 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Alphabet by 27.1% during the 1st quarter. Advisors Asset Management Inc. now owns 10,645 shares of the information services provider’s stock worth $1,621,000 after purchasing an additional 2,269 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Alphabet by 7.0% during the first quarter. Westwood Holdings Group Inc. now owns 212,491 shares of the information services provider’s stock valued at $32,354,000 after purchasing an additional 13,884 shares during the period. Finally, K2 Principal Fund L.P. acquired a new position in shares of Alphabet in the first quarter valued at $228,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 5.0 %

Shares of NASDAQ GOOG traded down $8.92 during mid-day trading on Thursday, hitting $168.41. The company’s stock had a trading volume of 3,847,732 shares, compared to its average volume of 19,474,070. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company’s fifty day simple moving average is $168.65 and its 200-day simple moving average is $171.91. 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 stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.26 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the firm earned $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid 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 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity at Alphabet

In related 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 transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,295 shares of company stock worth $30,698,791. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup increased 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. 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 report on Wednesday, October 30th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.56.

About Alphabet

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.