Oceanside Advisors LLC Sells 125 Shares of Alphabet Inc. (NASDAQ:GOOG)

Oceanside Advisors LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.9% in the third quarter, Holdings Channel reports. The firm owned 1,280 shares of the information services provider’s stock after selling 125 shares during the quarter. Oceanside Advisors LLC’s holdings in Alphabet were worth $214,000 at the end of the most recent reporting period.

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

Alphabet Price Performance

NASDAQ GOOG opened at $172.65 on Friday. Alphabet Inc. has a 12-month low of $128.11 and a 12-month high of $193.31. The firm’s 50 day moving average is $163.81 and its 200-day moving average is $170.43. The company has a market capitalization of $2.13 trillion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its earnings results 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 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 the consensus estimate of $86.39 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 7.83 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,244 shares of company stock valued at $37,776,954. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on GOOG. Jefferies Financial Group increased their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. 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 report on Wednesday. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.