Alphabet Inc. $GOOG Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,320 shares of the information services provider’s stock after selling 455 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Alphabet were worth $1,831,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. REDW Wealth LLC boosted its stake in shares of Alphabet by 2.3% during the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after acquiring an additional 54 shares in the last quarter. GDS Wealth Management raised its stake in shares of Alphabet by 2.4% during the 2nd quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock worth $412,000 after buying an additional 54 shares during the period. ACT Advisors LLC. lifted its position in shares of Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after buying an additional 55 shares in the last quarter. Moser Wealth Advisors LLC grew its stake in Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after acquiring an additional 55 shares during the period. Finally, LongView Wealth Management grew its stake in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.0%

Shares of GOOG opened at $320.28 on Friday. The stock has a fifty day simple moving average of $268.53 and a two-hundred day simple moving average of $218.44. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.86 trillion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67.

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

Alphabet Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Jefferies Financial Group raised their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Mizuho set a $325.00 price objective on Alphabet in a research note on Thursday, October 30th. Finally, TD Cowen increased their target price on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $304.62.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the transaction, the chief accounting officer owned 11,739 shares in the company, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 227,850 shares of company stock valued at $58,874,814 over the last 90 days. Company insiders own 12.99% of the company’s stock.

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.