Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Wagner Wealth Management LLC

Wagner Wealth Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,438 shares of the information services provider’s stock after selling 197 shares during the period. Wagner Wealth Management LLC’s holdings in Alphabet were worth $1,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. Sunflower Bank N.A. boosted its position in shares of Alphabet by 19.4% during the third quarter. Sunflower Bank N.A. now owns 10,533 shares of the information services provider’s stock worth $1,761,000 after buying an additional 1,713 shares during the period. McGuire Investment Group LLC increased its position in shares of Alphabet by 37.5% during the third quarter. McGuire Investment Group LLC now owns 2,125 shares of the information services provider’s stock worth $355,000 after purchasing an additional 580 shares in the last quarter. Willner & Heller LLC increased its position in shares of Alphabet by 27.8% during the third quarter. Willner & Heller LLC now owns 1,522 shares of the information services provider’s stock worth $254,000 after purchasing an additional 331 shares in the last quarter. JBR Co Financial Management Inc increased its position in Alphabet by 13.6% in the 3rd quarter. JBR Co Financial Management Inc now owns 6,860 shares of the information services provider’s stock valued at $1,147,000 after acquiring an additional 820 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Alphabet in the 3rd quarter valued at about $204,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG traded up $1.34 during midday trading on Friday, reaching $164.52. The stock had a trading volume of 10,945,971 shares, compared to its average volume of 19,793,420. The firm has a 50 day simple moving average of $162.81 and a 200-day simple moving average of $169.25. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The firm has a market cap of $2.03 trillion, a PE ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,092 shares of company stock worth $35,644,136. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GOOG shares. Pivotal Research started coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target for the company. UBS Group dropped their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Scotiabank began coverage on Alphabet in a report on Friday. They issued a “sector outperform” rating and a $212.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

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.