International Private Wealth Advisors LLC Sells 884 Shares of Alphabet Inc. (NASDAQ:GOOG)

International Private Wealth Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 36.7% during the third quarter, HoldingsChannel.com reports. The firm owned 1,524 shares of the information services provider’s stock after selling 884 shares during the period. International Private Wealth Advisors LLC’s holdings in Alphabet were worth $255,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Intelligence Driven Advisers LLC raised its position in Alphabet by 15.8% during the third quarter. Intelligence Driven Advisers LLC now owns 10,039 shares of the information services provider’s stock worth $1,678,000 after acquiring an additional 1,370 shares in the last quarter. Lummis Asset Management LP raised its position in Alphabet by 12.4% during the third quarter. Lummis Asset Management LP now owns 21,313 shares of the information services provider’s stock worth $3,563,000 after acquiring an additional 2,354 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Alphabet by 5.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 276,409 shares of the information services provider’s stock worth $46,213,000 after acquiring an additional 14,847 shares in the last quarter. Metis Global Partners LLC raised its position in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares in the last quarter. Finally, Curi RMB Capital LLC raised its position in Alphabet by 5.3% during the third quarter. Curi RMB Capital LLC now owns 353,738 shares of the information services provider’s stock worth $59,141,000 after acquiring an additional 17,824 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOG. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 441 shares of the firm’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 transaction of $75,437.46. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,471,141 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.7 %

Shares of Alphabet stock opened at $177.35 on Friday. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.27 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The firm’s 50-day moving average price is $166.20 and its two-hundred day moving average price is $171.57.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for 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 business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.