Alphabet Inc. $GOOG Position Reduced by Wrapmanager Inc.

Wrapmanager Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the second quarter, HoldingsChannel.com reports. The firm owned 21,296 shares of the information services provider’s stock after selling 941 shares during the quarter. Alphabet comprises approximately 0.9% of Wrapmanager Inc.’s investment portfolio, making the stock its 22nd biggest holding. Wrapmanager Inc.’s holdings in Alphabet were worth $3,778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. REDW Wealth LLC lifted its holdings in shares of Alphabet by 2.3% in the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after buying an additional 54 shares during the period. ACT Advisors LLC. grew its holdings in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares during the period. Moser Wealth Advisors LLC raised its position in Alphabet by 2.2% in the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after acquiring an additional 55 shares in the last quarter. LongView Wealth Management lifted its holdings in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares during the last quarter. Finally, Kooman & Associates lifted its holdings in Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after acquiring an additional 56 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 0.8%

Shares of Alphabet stock opened at $276.98 on Friday. The firm has a market cap of $3.34 trillion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $292.36. The stock has a 50-day simple moving average of $257.84 and a 200-day simple moving average of $209.48.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.12 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GOOG shares. Cantor Fitzgerald set a $310.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Mizuho set a $325.00 price target on Alphabet in a report on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, Jefferies Financial Group raised their price objective on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. This represents a 1.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 in the last three months. 12.99% of the stock is currently owned by company insiders.

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.