Rehmann Capital Advisory Group Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

Rehmann Capital Advisory Group lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,798 shares of the information services provider’s stock after selling 1,400 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Alphabet were worth $8,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hobbs Group Advisors LLC boosted its stake in Alphabet by 4.8% during the third quarter. Hobbs Group Advisors LLC now owns 3,544 shares of the information services provider’s stock valued at $593,000 after buying an additional 162 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Alphabet by 2.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 35,066 shares of the information services provider’s stock valued at $5,863,000 after acquiring an additional 796 shares in the last quarter. Financial Avengers Inc. bought a new stake in shares of Alphabet during the 3rd quarter valued at about $14,936,000. Brown Financial Advisors grew its holdings in shares of Alphabet by 2.4% during the third quarter. Brown Financial Advisors now owns 23,956 shares of the information services provider’s stock worth $4,005,000 after purchasing an additional 572 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $186.53 on Wednesday. Alphabet Inc. has a fifty-two week low of $131.06 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $2.28 trillion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The firm’s 50-day simple moving average is $171.26 and its two-hundred day simple moving average is $171.73.

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. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued 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 0.43%. Alphabet’s payout ratio is 10.61%.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,923 shares of company stock valued at $34,244,676 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of research analyst reports. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Citigroup upped their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” 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 MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target 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.