Alphabet Inc. (NASDAQ:GOOG) Stake Decreased by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,567 shares of the information services provider’s stock after selling 274 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Alphabet were worth $2,770,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOOG. Colonial River Wealth Management LLC raised its holdings in Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after acquiring an additional 498 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Alphabet by 4.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock worth $439,405,000 after acquiring an additional 115,716 shares during the last quarter. TSA Wealth Managment LLC acquired a new stake in shares of Alphabet during the second quarter worth $206,000. Finally, RAM Investment Partners LLC lifted its holdings in shares of Alphabet by 6.0% during the second quarter. RAM Investment Partners LLC now owns 19,615 shares of the information services provider’s stock valued at $3,598,000 after purchasing an additional 1,119 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $171.41 on Wednesday. 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 stock has a market capitalization of $2.11 trillion, a P/E ratio of 22.73, a P/E/G ratio of 1.22 and a beta of 1.04. The business has a 50-day moving average of $163.97 and a two-hundred day moving average of $170.83. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 7.97 EPS for the current fiscal year.

Alphabet Dividend Announcement

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. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GOOG shares. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,552 shares of company stock valued at $34,433,848 in the last quarter. Insiders own 12.99% of the company’s stock.

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.