Galvin Gaustad & Stein LLC Sells 5,081 Shares of Alphabet Inc. (NASDAQ:GOOG)

Galvin Gaustad & Stein LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.5% in the third quarter, HoldingsChannel.com reports. The firm owned 87,068 shares of the information services provider’s stock after selling 5,081 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in Alphabet were worth $14,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Abich Financial Wealth Management LLC boosted 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 valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet during the 2nd quarter valued at about $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the second quarter valued at approximately $40,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet in the 2nd quarter worth about $44,000. Finally, Hoese & Co LLP raised its holdings in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. 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 three months, insiders have sold 242,552 shares of company stock valued at $40,287,253. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GOOG shares. Barclays increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $179.86 on Friday. The company has a market capitalization of $2.20 trillion, a P/E ratio of 23.85, a P/E/G ratio of 1.25 and a beta of 1.04. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31. The firm’s 50 day simple moving average is $164.92 and its two-hundred day simple moving average is $171.12. 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 (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the firm earned $1.55 EPS. The company’s revenue was up 15.1% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.