KPP Advisory Services LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

KPP Advisory Services LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,740 shares of the information services provider’s stock after selling 337 shares during the quarter. KPP Advisory Services LLC’s holdings in Alphabet were worth $1,127,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. RIA Advisory Group LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth about $323,000. Evolution Wealth Advisors LLC grew its holdings in Alphabet by 1.3% in the third quarter. Evolution Wealth Advisors LLC now owns 57,865 shares of the information services provider’s stock worth $9,673,000 after purchasing an additional 760 shares during the period. Seelaus Asset Management LLC increased its stake in shares of Alphabet by 48.4% during the third quarter. Seelaus Asset Management LLC now owns 9,194 shares of the information services provider’s stock valued at $1,537,000 after purchasing an additional 3,000 shares in the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Alphabet by 0.9% during the third quarter. KCM Investment Advisors LLC now owns 153,109 shares of the information services provider’s stock valued at $25,598,000 after purchasing an additional 1,380 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Alphabet by 10.4% in the 3rd quarter. Empowered Funds LLC now owns 100,845 shares of the information services provider’s stock worth $16,860,000 after purchasing an additional 9,497 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOG. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. UBS Group raised their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

GOOG stock traded down $3.46 during midday trading on Friday, reaching $173.89. The stock had a trading volume of 21,708,870 shares, compared to its average volume of 19,582,979. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. 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 company’s fifty day simple moving average is $167.01 and its 200 day simple moving average is $171.65. The company has a market cap of $2.13 trillion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 over the last 90 days. 12.99% of the stock is currently owned by insiders.

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.