Alphabet Inc. $GOOG Position Lessened by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 11.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,276 shares of the information services provider’s stock after selling 3,776 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Alphabet were worth $7,130,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Higgins & Schmidt Wealth Strategies LLC increased its holdings in shares of Alphabet by 2.2% in the 3rd quarter. Higgins & Schmidt Wealth Strategies LLC now owns 1,818 shares of the information services provider’s stock worth $443,000 after acquiring an additional 40 shares during the period. Meritas Wealth Management LLC grew its position in Alphabet by 3.0% in the 3rd quarter. Meritas Wealth Management LLC now owns 1,458 shares of the information services provider’s stock worth $355,000 after purchasing an additional 42 shares during the last quarter. First Financial Bank Trust Division grew its position in Alphabet by 0.6% in the 3rd quarter. First Financial Bank Trust Division now owns 7,208 shares of the information services provider’s stock worth $1,756,000 after purchasing an additional 45 shares during the last quarter. Falcon Wealth Planning increased its stake in shares of Alphabet by 0.4% in the third quarter. Falcon Wealth Planning now owns 11,881 shares of the information services provider’s stock valued at $2,894,000 after purchasing an additional 45 shares during the period. Finally, Trust Co of the South raised its holdings in shares of Alphabet by 0.5% during the third quarter. Trust Co of the South now owns 8,800 shares of the information services provider’s stock valued at $2,143,000 after buying an additional 48 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.0%

GOOG opened at $314.54 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market capitalization of $3.80 trillion, a PE ratio of 31.02, a P/E/G ratio of 1.81 and a beta of 1.07. The stock’s fifty day moving average is $298.73 and its 200-day moving average is $242.31. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter last year, the business posted $2.12 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $312.30, for a total value of $867,569.40. Following the transaction, the chief accounting officer owned 8,962 shares of the company’s stock, valued at approximately $2,798,832.60. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $308.19, for a total value of $184,914.00. Following the sale, the director owned 3,916 shares of the company’s stock, valued at $1,206,872.04. This trade represents a 13.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 195,363 shares of company stock worth $57,024,525. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Guggenheim reissued a “buy” rating and issued a $375.00 price objective on shares of Alphabet in a report on Monday, December 1st. TD Cowen boosted their price target on Alphabet from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Piper Sandler increased their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. DA Davidson set a $300.00 price target on Alphabet in a report on Tuesday, November 25th. Finally, Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $313.04.

Read Our Latest Research Report on GOOG

Key Alphabet News

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Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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