Alphabet Inc. (NASDAQ:GOOG) Holdings Trimmed by Spinnaker Trust

Spinnaker Trust cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 112,537 shares of the information services provider’s stock after selling 3,040 shares during the quarter. Alphabet accounts for about 1.2% of Spinnaker Trust’s portfolio, making the stock its 17th biggest position. Spinnaker Trust’s holdings in Alphabet were worth $18,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Twelve Points Wealth Management LLC lifted its stake in Alphabet by 0.7% during 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 increased its holdings in shares of Alphabet by 3.1% in the second 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 in the last quarter. Investment Advisory Services Inc. TX ADV lifted its position in shares of Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after acquiring an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV boosted its stake in shares of Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its position in shares of Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GOOG shares. Scotiabank began coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the transaction, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,052 shares of company stock worth $38,424,448 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $178.33 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $164.24 and a 200-day simple moving average of $170.89. The stock has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.20 and a beta of 1.04. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the business posted $1.55 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts expect that Alphabet Inc. will post 7.97 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.