Alphabet Inc. (NASDAQ:GOOG) is Douglas Lane & Associates LLC’s 5th Largest Position

Douglas Lane & Associates LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 929,733 shares of the information services provider’s stock after selling 23,858 shares during the period. Alphabet comprises 2.1% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 5th biggest position. Douglas Lane & Associates LLC’s holdings in Alphabet were worth $155,442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Capital International Investors grew its stake in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares in the last quarter. Capital World Investors grew its stake in Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after acquiring an additional 979,083 shares in the last quarter. Capital Research Global Investors grew its stake in Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after acquiring an additional 684,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after acquiring an additional 636,008 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock worth $35,644,136 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.8 %

Shares of GOOG stock traded up $1.34 during trading hours on Friday, hitting $164.52. The company had a trading volume of 10,945,971 shares, compared to its average volume of 19,793,420. The company’s fifty day moving average is $162.81 and its 200 day moving average is $169.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a market capitalization of $2.03 trillion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.44 EPS. Research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GOOG shares. Oppenheimer dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Scotiabank started coverage on shares of Alphabet in a report on Friday. They issued a “sector outperform” rating and a $212.00 target price on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Pivotal Research started coverage on shares of Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

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.