Atlas Wealth LLC Sells 370 Shares of Alphabet Inc. (NASDAQ:GOOG)

Atlas Wealth LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,961 shares of the information services provider’s stock after selling 370 shares during the quarter. Alphabet accounts for about 3.4% of Atlas Wealth LLC’s investment portfolio, making the stock its 9th biggest holding. Atlas Wealth LLC’s holdings in Alphabet were worth $7,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Atom Investors LP grew its holdings in shares of Alphabet by 8.9% during the third quarter. Atom Investors LP now owns 16,517 shares of the information services provider’s stock worth $2,761,000 after buying an additional 1,348 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Alphabet during the 3rd quarter worth approximately $22,099,000. Kestra Investment Management LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $526,000. Paradigm Capital Management LLC NV acquired a new stake in shares of Alphabet in the third quarter valued at approximately $2,458,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Alphabet in the third quarter worth $718,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.2 %

Shares of Alphabet stock opened at $170.49 on Monday. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The stock has a market cap of $2.09 trillion, a PE ratio of 22.61, a PEG ratio of 1.19 and a beta of 1.04. The firm has a 50-day moving average of $169.98 and a 200-day moving average of $171.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results 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. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group increased their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

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.