Granite Group Advisors LLC Has $279,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Granite Group Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,670 shares of the information services provider’s stock after selling 65 shares during the period. Granite Group Advisors LLC’s holdings in Alphabet were worth $279,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOG. Philip James Wealth Mangement LLC lifted its stake in Alphabet by 23.6% in the 3rd quarter. Philip James Wealth Mangement LLC now owns 3,976 shares of the information services provider’s stock valued at $665,000 after acquiring an additional 760 shares in the last quarter. Lakeshore Financial Planning Inc. raised its holdings in shares of Alphabet by 3.8% in the third quarter. Lakeshore Financial Planning Inc. now owns 3,832 shares of the information services provider’s stock valued at $641,000 after purchasing an additional 142 shares during the last quarter. Financial Strategies Group Inc. raised its holdings in shares of Alphabet by 4.7% in the third quarter. Financial Strategies Group Inc. now owns 49,871 shares of the information services provider’s stock valued at $8,296,000 after purchasing an additional 2,230 shares during the last quarter. AIA Group Ltd lifted its position in shares of Alphabet by 8.6% in the third quarter. AIA Group Ltd now owns 95,629 shares of the information services provider’s stock worth $15,988,000 after purchasing an additional 7,536 shares in the last quarter. Finally, Presidio Capital Management LLC boosted its holdings in Alphabet by 10.4% during the third quarter. Presidio Capital Management LLC now owns 1,822 shares of the information services provider’s stock worth $305,000 after purchasing an additional 171 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on 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 sale, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 242,552 shares of company stock valued at $40,287,253 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $179.86 on Friday. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.20 trillion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.25 and a beta of 1.04. The stock’s fifty day moving average price is $164.92 and its two-hundred day moving average price is $171.12.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping 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 business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the company earned $1.55 EPS. The business’s revenue was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.