Simplicity Wealth LLC Has $4.23 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Simplicity Wealth LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 86.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,294 shares of the information services provider’s stock after selling 165,627 shares during the quarter. Simplicity Wealth LLC’s holdings in Alphabet were worth $4,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Harbour Investments Inc. boosted its stake in Alphabet by 14.3% in the fourth quarter. Harbour Investments Inc. now owns 40,208 shares of the information services provider’s stock valued at $5,667,000 after acquiring an additional 5,018 shares during the last quarter. Oarsman Capital Inc. boosted its position in shares of Alphabet by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 79,773 shares of the information services provider’s stock valued at $11,242,000 after acquiring an additional 711 shares during the last quarter. CMG Global Holdings LLC bought a new stake in shares of Alphabet during the 4th quarter worth $218,000. Sanibel Captiva Trust Company Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $94,258,000. Finally, Hobbs Group Advisors LLC purchased a new position in Alphabet in the 4th quarter worth $477,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOG shares. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective for the company. Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Stock Performance

NASDAQ:GOOG opened at $164.52 on Friday. The firm has a market capitalization of $2.03 trillion, a PE ratio of 23.60, a PEG ratio of 1.21 and a beta of 1.04. The stock’s fifty day moving average is $162.81 and its 200 day moving average is $169.13. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week 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.

Alphabet (NASDAQ:GOOG) last released 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 firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business earned $1.44 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is 11.48%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 700 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 29,324 shares of the company’s stock, valued at $4,838,460. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,092 shares of company stock worth $35,644,136. 12.99% of the stock is currently owned by company insiders.

Alphabet 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.