Patton Albertson Miller Group LLC Has $4.24 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Patton Albertson Miller Group LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,356 shares of the information services provider’s stock after selling 240 shares during the period. Patton Albertson Miller Group LLC’s holdings in Alphabet were worth $4,239,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC boosted its stake in Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after buying an additional 1,291,274 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Alphabet by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after buying an additional 636,008 shares in the last quarter. American Century Companies Inc. boosted its stake in Alphabet by 2.3% during the second quarter. American Century Companies Inc. now owns 12,327,458 shares of the information services provider’s stock worth $2,261,103,000 after buying an additional 282,121 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares in the last quarter. Finally, National Pension Service boosted its stake in Alphabet by 14.0% during the third quarter. National Pension Service now owns 9,903,537 shares of the information services provider’s stock worth $1,655,772,000 after buying an additional 1,218,671 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $169.43 on Tuesday. The firm has a market capitalization of $2.07 trillion, a P/E ratio of 22.47, a PEG ratio of 1.16 and a beta of 1.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The business has a 50-day moving average of $169.30 and a 200-day moving average of $171.85. 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 posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,673,866. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted 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. Barclays lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet 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.