17 Capital Partners LLC Lowers Stock Position in Alphabet Inc. $GOOG

17 Capital Partners LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,144 shares of the information services provider’s stock after selling 418 shares during the quarter. Alphabet makes up about 1.1% of 17 Capital Partners LLC’s holdings, making the stock its 12th biggest position. 17 Capital Partners LLC’s holdings in Alphabet were worth $1,977,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. GW&K Investment Management LLC grew its position in Alphabet by 3.9% in the 1st quarter. GW&K Investment Management LLC now owns 4,169 shares of the information services provider’s stock valued at $651,000 after buying an additional 156 shares during the last quarter. Gratus Wealth Advisors LLC increased its stake in Alphabet by 0.9% in the 1st quarter. Gratus Wealth Advisors LLC now owns 32,033 shares of the information services provider’s stock valued at $5,005,000 after buying an additional 294 shares during the period. Venturi Wealth Management LLC raised its position in Alphabet by 10.8% during the 1st quarter. Venturi Wealth Management LLC now owns 21,947 shares of the information services provider’s stock worth $3,429,000 after buying an additional 2,139 shares during the last quarter. Finally, Egerton Capital UK LLP lifted its stake in shares of Alphabet by 12.6% in the 1st quarter. Egerton Capital UK LLP now owns 1,665,708 shares of the information services provider’s stock worth $260,234,000 after acquiring an additional 186,203 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $292.99 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $260.83 and its 200 day moving average price is $212.43. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $304.25. The stock has a market cap of $3.54 trillion, a price-to-earnings ratio of 28.89, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.12 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOG. HSBC reissued a “buy” rating and set a $335.00 price target on shares of Alphabet in a report on Thursday, October 30th. Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. KeyCorp restated an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Sanford C. Bernstein increased their price objective on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Seven analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $324.81.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 195,452 shares of company stock valued at $49,255,209. Corporate insiders own 12.99% of the company’s stock.

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.