Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Summit Rock Advisors LP

Summit Rock Advisors LP trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 59.7% in the third quarter, HoldingsChannel.com reports. The fund owned 26,587 shares of the information services provider’s stock after selling 39,418 shares during the quarter. Alphabet comprises about 1.7% of Summit Rock Advisors LP’s investment portfolio, making the stock its 6th biggest position. Summit Rock Advisors LP’s holdings in Alphabet were worth $4,445,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GOOG. Leslie Global Wealth LLC lifted its stake in Alphabet by 31.9% during the third quarter. Leslie Global Wealth LLC now owns 2,291 shares of the information services provider’s stock worth $383,000 after purchasing an additional 554 shares during the last quarter. One Plus One Wealth Management LLC raised its holdings in shares of Alphabet by 8.4% during the 3rd quarter. One Plus One Wealth Management LLC now owns 4,042 shares of the information services provider’s stock worth $676,000 after buying an additional 312 shares in the last quarter. Northstar Asset Management Inc. lifted its position in shares of Alphabet by 20.9% during the 3rd quarter. Northstar Asset Management Inc. now owns 5,526 shares of the information services provider’s stock worth $924,000 after buying an additional 956 shares during the last quarter. Catalina Capital Group LLC boosted its stake in Alphabet by 6.0% in the third quarter. Catalina Capital Group LLC now owns 23,853 shares of the information services provider’s stock valued at $3,988,000 after buying an additional 1,348 shares in the last quarter. Finally, Marks Group Wealth Management Inc raised its stake in Alphabet by 5.4% during the third quarter. Marks Group Wealth Management Inc now owns 162,384 shares of the information services provider’s stock worth $27,149,000 after acquiring an additional 8,304 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $178.33 on Thursday. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The stock’s 50 day moving average is $164.24 and its 200-day moving average is $170.89. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.20 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm 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 business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.97 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOG. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Canaccord Genuity Group increased their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. TD Cowen raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Citigroup raised their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was 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. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction 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 approximately $59,741,643.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,052 shares of company stock valued at $38,424,448. Corporate insiders own 12.99% of the company’s stock.

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.