Patton Albertson Miller Group LLC Sells 240 Shares of Alphabet Inc. (NASDAQ:GOOG)

Patton Albertson Miller Group LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 25,356 shares of the information services provider’s stock after selling 240 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Alphabet were worth $4,239,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GOOG. Abich Financial Wealth Management LLC lifted 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 acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the 2nd quarter valued at approximately $37,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. lifted its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP bought a new stake in Alphabet in the 2nd quarter valued at approximately $44,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 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 issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $169.43 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock’s fifty day moving average price is $169.30 and its two-hundred day moving average price is $171.85. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.16 and a beta of 1.04.

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, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’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 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is owned by corporate insiders.

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.