Alphabet Inc. (NASDAQ:GOOG) Position Lessened by Denver PWM LLC

Denver PWM LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 30.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,493 shares of the information services provider’s stock after selling 649 shares during the period. Denver PWM LLC’s holdings in Alphabet were worth $250,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new stake in Alphabet in the 3rd quarter valued at approximately $25,000. Abich Financial Wealth Management LLC increased its holdings in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet in the third quarter valued at $33,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the second quarter valued at $37,000. Finally, HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter worth approximately $40,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Scotiabank started coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Down 1.6 %

GOOG stock opened at $193.63 on Friday. 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 $2.37 trillion, a P/E ratio of 25.68, a P/E/G ratio of 1.38 and a beta of 1.02. Alphabet Inc. has a 1-year low of $131.06 and a 1-year high of $196.89. The business’s 50 day moving average is $172.74 and its 200-day moving average is $172.12.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % 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, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,123 shares of company stock valued at $34,121,676. 12.99% of the stock is currently owned by insiders.

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.