Walkner Condon Financial Advisors LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Walkner Condon Financial Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 14.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,171 shares of the information services provider’s stock after selling 2,271 shares during the period. Walkner Condon Financial Advisors LLC’s holdings in Alphabet were worth $2,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Wealth Architects LLC boosted its stake in Alphabet by 3.3% during the third quarter. Wealth Architects LLC now owns 15,734 shares of the information services provider’s stock worth $2,631,000 after buying an additional 509 shares during the period. Blake Schutter Theil Wealth Advisors LLC bought a new stake in shares of Alphabet in the 3rd quarter worth about $1,285,000. Prudent Investors Network Inc. boosted its stake in shares of Alphabet by 71.9% during the 3rd quarter. Prudent Investors Network Inc. now owns 2,488 shares of the information services provider’s stock worth $416,000 after purchasing an additional 1,041 shares during the period. M&G PLC bought a new position in Alphabet during the 3rd quarter valued at about $2,240,000. Finally, Concurrent Investment Advisors LLC raised its position in Alphabet by 6.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 106,768 shares of the information services provider’s stock worth $17,851,000 after purchasing an additional 6,529 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,052 shares of company stock worth $38,424,448 in the last 90 days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOG. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer upped their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, UBS Group lifted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Up 4.0 %

NASDAQ:GOOG opened at $178.33 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.20 trillion, a P/E ratio of 23.65, a P/E/G ratio of 1.20 and a beta of 1.04. The company’s 50-day simple moving average is $164.24 and its 200-day simple moving average is $170.89. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.