Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 16.9% during the 4th quarter, Holdings Channel reports. The fund owned 40,281 shares of the information services provider’s stock after selling 8,219 shares during the period. Alphabet comprises about 1.2% of Lake Street Private Wealth LLC’s portfolio, making the stock its 16th biggest position. Lake Street Private Wealth LLC’s holdings in Alphabet were worth $7,671,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GOOG. M&G PLC purchased a new position in Alphabet in the 3rd quarter valued at about $2,240,000. Coldstream Capital Management Inc. raised its position in shares of Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after buying an additional 14,738 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the period. Stevens Capital Management LP boosted its position in Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after acquiring an additional 57,810 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Alphabet by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after acquiring an additional 5,892 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

GOOG opened at $197.55 on Monday. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. 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 market cap of $2.42 trillion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99. The company has a fifty day simple moving average of $185.92 and a 200 day simple moving average of $174.85.

Alphabet (NASDAQ:GOOG) last announced its 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 analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup raised their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Oppenheimer upped their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.