Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Balboa Wealth Partners

Balboa Wealth Partners boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,553 shares of the information services provider’s stock after purchasing an additional 2,598 shares during the quarter. Alphabet comprises 2.0% of Balboa Wealth Partners’ investment portfolio, making the stock its 9th largest holding. Balboa Wealth Partners’ holdings in Alphabet were worth $7,950,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOG. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter valued at approximately $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the second quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. grew its position in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet during the second quarter worth approximately $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock valued at $34,471,141. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.7 %

Shares of GOOG opened at $177.35 on Friday. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The stock’s fifty day simple moving average is $166.20 and its 200-day simple moving average is $171.57. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.17 trillion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the business earned $1.55 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.56.

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.