Circle Wealth Management LLC Purchases 5,989 Shares of Alphabet Inc. (NASDAQ:GOOG)

Circle Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.3% during the third quarter, Holdings Channel reports. The firm owned 77,972 shares of the information services provider’s stock after acquiring an additional 5,989 shares during the period. Alphabet makes up 0.3% of Circle Wealth Management LLC’s holdings, making the stock its 25th largest holding. Circle Wealth Management LLC’s holdings in Alphabet were worth $13,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in GOOG. Twelve Points Wealth Management LLC grew its holdings in Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after acquiring an additional 55 shares in the last quarter. PCG Wealth Advisors LLC increased its holdings in Alphabet by 3.1% during 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 during the period. Investment Advisory Services Inc. TX ADV lifted its holdings in Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after buying an additional 57 shares during the period. Advisors Management Group Inc. ADV raised its position in shares of Alphabet by 2.0% in 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, Shira Ridge Wealth Management lifted its stake in shares of Alphabet by 0.4% during the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after purchasing an additional 60 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Scotiabank began coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Down 0.2 %

Shares of GOOG stock opened at $170.49 on Friday. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The stock has a market cap of $2.09 trillion, a P/E ratio of 22.61, a P/E/G ratio of 1.19 and a beta of 1.04. The stock has a 50 day moving average of $169.98 and a 200 day moving average of $171.84. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the company earned $1.55 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.