Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Trimmed by Crystal Rock Capital Management

Crystal Rock Capital Management lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,385 shares of the information services provider’s stock after selling 3,675 shares during the quarter. Alphabet comprises approximately 4.9% of Crystal Rock Capital Management’s portfolio, making the stock its 7th biggest position. Crystal Rock Capital Management’s holdings in Alphabet were worth $8,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Apollon Financial LLC increased its stake in shares of Alphabet by 0.8% during the third quarter. Apollon Financial LLC now owns 64,143 shares of the information services provider’s stock valued at $10,724,000 after purchasing an additional 493 shares in the last quarter. WealthPlan Investment Management LLC increased its position in Alphabet by 26.9% during the 3rd quarter. WealthPlan Investment Management LLC now owns 103,666 shares of the information services provider’s stock valued at $17,332,000 after buying an additional 21,996 shares in the last quarter. Harbour Investments Inc. raised its stake in Alphabet by 0.8% during the third quarter. Harbour Investments Inc. now owns 43,084 shares of the information services provider’s stock valued at $7,203,000 after buying an additional 337 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Alphabet by 2.0% in the third quarter. Apollon Wealth Management LLC now owns 142,279 shares of the information services provider’s stock worth $23,788,000 after acquiring an additional 2,751 shares in the last quarter. Finally, Keystone Financial Services grew its stake in shares of Alphabet by 4.6% in the third quarter. Keystone Financial Services now owns 10,466 shares of the information services provider’s stock worth $1,750,000 after acquiring an additional 459 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. 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 241,752 shares of company stock valued at $40,156,829 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $183.32 on Wednesday. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The firm has a market capitalization of $2.24 trillion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $165.25 and a 200 day moving average of $171.44.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 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 the consensus estimate of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current 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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five investment 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 stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target 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.