Alphabet Inc. $GOOG Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 155,322 shares of the information services provider’s stock after selling 2,228 shares during the period. Alphabet comprises about 3.9% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 3rd biggest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Alphabet were worth $52,924,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Readystate Asset Management LP purchased a new stake in Alphabet in the second quarter worth $45,352,000. Arrowstreet Capital Limited Partnership boosted its holdings in Alphabet by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 14,581,870 shares of the information services provider’s stock valued at $4,182,952,000 after acquiring an additional 6,300,900 shares in the last quarter. State Street Corp boosted its holdings in Alphabet by 2.8% in the second quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock valued at $67,458,980,000 after acquiring an additional 5,208,690 shares in the last quarter. BlackRock Inc. increased its position in Alphabet by 1.4% during the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock valued at $130,704,718,000 after purchasing an additional 5,164,200 shares during the period. Finally, Amundi increased its position in Alphabet by 22.9% during the 1st quarter. Amundi now owns 21,922,379 shares of the information services provider’s stock valued at $6,288,654,000 after purchasing an additional 4,083,758 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

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Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 83 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director owned 19,076 shares in the company, valued at $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 247 shares of company stock worth $79,238 over the last three months. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Benchmark reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 29th. Wells Fargo & Company set a $365.00 target price on shares of Alphabet in a report on Monday, November 2nd. Citigroup downgraded Alphabet from a “market outperform” rating to a “market perform” rating in a report on Thursday, October 29th. DZ Bank raised Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Roth Capital boosted their target price on Alphabet from $435.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $413.38.

View Our Latest Analysis on GOOG

Alphabet Stock Performance

Alphabet stock opened at $283.93 on Monday. Alphabet Inc. has a 52-week low of $271.41 and a 52-week high of $404.47. The company has a market cap of $3.49 trillion, a P/E ratio of 14.82, a P/E/G ratio of 0.86 and a beta of 1.21. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $329.78 and a two-hundred day simple moving average of $337.01.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.89). The business had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.87 earnings per share. Analysts predict that Alphabet Inc. will post 19.80 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, December 7th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 4.59%.

Alphabet Profile

(Free Report)

Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer.

Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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