Nicollet Investment Management Inc. Sells 1,315 Shares of Alphabet Inc. (NASDAQ:GOOG)

Nicollet Investment Management Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 85,331 shares of the information services provider’s stock after selling 1,315 shares during the quarter. Alphabet accounts for about 4.9% of Nicollet Investment Management Inc.’s portfolio, making the stock its 4th biggest position. Nicollet Investment Management Inc.’s holdings in Alphabet were worth $14,266,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GOOG. China Universal Asset Management Co. Ltd. lifted its stake in Alphabet by 360.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after buying an additional 15,848 shares in the last quarter. Quent Capital LLC boosted its stake in Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after purchasing an additional 1,798 shares during the period. Empowered Funds LLC grew its position in Alphabet by 19.0% during the 1st quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after purchasing an additional 13,756 shares in the last quarter. Fiducient Advisors LLC raised its stake in Alphabet by 10.1% during the 1st quarter. Fiducient Advisors LLC now owns 7,240 shares of the information services provider’s stock valued at $1,102,000 after purchasing an additional 666 shares during the period. Finally, South Street Advisors LLC lifted its holdings in shares of Alphabet by 19.6% in the first quarter. South Street Advisors LLC now owns 4,890 shares of the information services provider’s stock valued at $745,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $173.89 on Friday. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. 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 company has a market cap of $2.13 trillion, a P/E ratio of 23.06, a P/E/G ratio of 1.27 and a beta of 1.04. The business’s 50 day moving average is $167.01 and its two-hundred day moving average is $171.65.

Alphabet (NASDAQ:GOOG) last announced its earnings results 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOOG. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Barclays boosted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling

In other news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,471,141 over the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Company 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.