Encompass Wealth Advisors LLC Sells 127 Shares of Alphabet Inc. (NASDAQ:GOOG)

Encompass Wealth Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,262 shares of the information services provider’s stock after selling 127 shares during the quarter. Encompass Wealth Advisors LLC’s holdings in Alphabet were worth $713,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC lifted its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the second quarter valued at approximately $37,000. HWG Holdings LP bought a new stake in Alphabet during the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. boosted its holdings in shares of 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 purchasing an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP bought a new position in shares of Alphabet in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $183.32 on Wednesday. The firm has a market cap of $2.24 trillion, a P/E ratio of 24.31, a P/E/G ratio of 1.28 and a beta of 1.04. The stock’s 50 day moving average is $165.75 and its 200 day moving average is $171.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the firm posted $1.55 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. 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 accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,752 shares of company stock valued at $40,156,829. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOG. Barclays upped their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.56.

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.