Alphabet Inc. (NASDAQ:GOOG) Stake Cut by Prudent Man Advisors LLC

Prudent Man Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,830 shares of the information services provider’s stock after selling 1,232 shares during the period. Alphabet accounts for approximately 0.7% of Prudent Man Advisors LLC’s portfolio, making the stock its 21st biggest holding. Prudent Man Advisors LLC’s holdings in Alphabet were worth $2,145,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GOOG. Abich Financial Wealth Management LLC increased its stake in 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 valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP acquired a new position in shares of Alphabet in the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet during the second quarter valued at $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOG. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Finally, Citigroup boosted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Price Performance

Shares of Alphabet stock opened at $173.89 on Monday. The stock has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31. The firm’s 50-day moving average price is $167.01 and its two-hundred day moving average price is $171.74. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter last year, the company posted $1.55 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 7.99 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. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,471,141 over the last ninety days. Insiders own 12.99% of the company’s stock.

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.