Perfromance Wealth Partners LLC Has $141.43 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Perfromance Wealth Partners LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 845,932 shares of the information services provider’s stock after selling 2,577 shares during the quarter. Alphabet accounts for about 4.9% of Perfromance Wealth Partners LLC’s portfolio, making the stock its 6th biggest holding. Perfromance Wealth Partners LLC’s holdings in Alphabet were worth $141,430,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Twelve Points Wealth Management LLC boosted its stake in shares of Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after acquiring an additional 55 shares during the period. PCG Wealth Advisors LLC raised its position in shares of Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV boosted its position in shares of Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after acquiring an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV grew its stake in Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after acquiring an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock traded up $1.34 during trading hours on Friday, reaching $164.52. The company had a trading volume of 10,945,971 shares, compared to its average volume of 19,793,420. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day moving average of $162.81 and a 200-day moving average of $169.13. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current 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 11.48%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the sale, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock worth $35,644,136 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOOG shares. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Pivotal Research initiated coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.