Alphabet Inc. (NASDAQ:GOOG) Position Cut by Symmetry Partners LLC

Symmetry Partners LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 92.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,066 shares of the information services provider’s stock after selling 24,968 shares during the quarter. Symmetry Partners LLC’s holdings in Alphabet were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Abich Financial Wealth Management LLC boosted its stake in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP bought a new position in Alphabet during the 2nd quarter valued at $40,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP boosted its stake in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $172.65 on Friday. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $128.11 and a 1 year high of $193.31. The business has a fifty day simple moving average of $163.81 and a 200 day simple moving average of $170.53. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 1.24 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, 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 business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period last year, the company earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 7.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is 10.61%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOG. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on 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 approximately $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,244 shares of company stock worth $37,776,954. Corporate insiders own 12.99% of the company’s stock.

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.