Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,545 shares of the information services provider’s stock after purchasing an additional 5,892 shares during the period. Alphabet accounts for 0.8% of Verdence Capital Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Verdence Capital Advisors LLC’s holdings in Alphabet were worth $10,624,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Rockbridge Investment Management LCC grew its stake in shares of Alphabet by 6.4% during the 3rd quarter. Rockbridge Investment Management LCC now owns 3,342 shares of the information services provider’s stock valued at $559,000 after buying an additional 200 shares during the period. Beta Wealth Group Inc. boosted its holdings in Alphabet by 11.2% in the third quarter. Beta Wealth Group Inc. now owns 19,458 shares of the information services provider’s stock valued at $3,253,000 after acquiring an additional 1,958 shares during the last quarter. Carson Advisory Inc. increased its stake in Alphabet by 107.4% during the third quarter. Carson Advisory Inc. now owns 4,678 shares of the information services provider’s stock worth $782,000 after acquiring an additional 2,422 shares during the last quarter. Rovin Capital UT ADV raised its holdings in shares of Alphabet by 88.9% in the 3rd quarter. Rovin Capital UT ADV now owns 2,357 shares of the information services provider’s stock worth $394,000 after purchasing an additional 1,109 shares during the period. Finally, Windward Capital Management Co. CA lifted its stake in shares of Alphabet by 1.5% in the 3rd quarter. Windward Capital Management Co. CA now owns 302,145 shares of the information services provider’s stock valued at $50,516,000 after purchasing an additional 4,426 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.3 %

NASDAQ:GOOG opened at $179.86 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.25 and a beta of 1.04. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The stock has a 50-day simple moving average of $164.92 and a 200 day simple moving average of $171.12.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during 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 business’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOG shares. Barclays increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the transaction, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 242,552 shares of company stock valued at $40,287,253. Company insiders own 12.99% of the company’s stock.

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.