Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,656,754 shares of the information services provider’s stock after selling 387,704 shares during the period. Alphabet accounts for about 1.0% of Loomis Sayles & Co. L P’s investment portfolio, making the stock its 24th biggest holding. Loomis Sayles & Co. L P’s holdings in Alphabet were worth $778,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Twelve Points Wealth Management LLC lifted its position in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC boosted its position in Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV grew its holdings in Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after acquiring an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV increased its position in shares of Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after acquiring an additional 58 shares during the period. Finally, Shira Ridge Wealth Management boosted its holdings in shares of Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after purchasing an additional 60 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOG shares. Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group upped their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.6 %

Shares of GOOG stock opened at $166.57 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The stock has a market cap of $2.04 trillion, a P/E ratio of 22.09, a P/E/G ratio of 1.16 and a beta of 1.04. The company has a 50 day simple moving average of $169.10 and a two-hundred day simple moving average of $171.87.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

About Alphabet

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.