Clarity Financial LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Clarity Financial LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,610 shares of the information services provider’s stock after selling 4,622 shares during the quarter. Alphabet comprises about 2.6% of Clarity Financial LLC’s portfolio, making the stock its 12th largest position. Clarity Financial LLC’s holdings in Alphabet were worth $22,505,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC raised 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 worth $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the second quarter worth $37,000. HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter worth $40,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet during the second quarter worth $44,000. Finally, Hoese & Co LLP boosted its stake in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOOG. Jefferies Financial Group boosted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research raised their target price 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. UBS Group raised their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research 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 stock an “overweight” rating in a report on Wednesday, October 30th. Finally, TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,552 shares of company stock valued at $34,433,848. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.4 %

Shares of NASDAQ GOOG opened at $171.41 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The business has a 50-day moving average price of $163.97 and a 200 day moving average price of $170.83. The stock has a market cap of $2.11 trillion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04.

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 previous year, the business posted $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 7.97 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.