Alphabet Inc. (NASDAQ:GOOG) Position Trimmed by Draper Asset Management LLC

Draper Asset Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the third quarter, Holdings Channel.com reports. The firm owned 15,192 shares of the information services provider’s stock after selling 81 shares during the period. Alphabet comprises about 1.8% of Draper Asset Management LLC’s portfolio, making the stock its 10th biggest holding. Draper Asset Management LLC’s holdings in Alphabet were worth $2,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOOG. Westfield Capital Management Co. LP grew its holdings in shares of Alphabet by 2.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 70,572 shares of the information services provider’s stock valued at $11,799,000 after acquiring an additional 1,580 shares in the last quarter. Centaurus Financial Inc. boosted its position in Alphabet by 4.9% during the third quarter. Centaurus Financial Inc. now owns 72,625 shares of the information services provider’s stock valued at $12,142,000 after purchasing an additional 3,366 shares during the last quarter. Wealth Dimensions Group Ltd. grew its stake in Alphabet by 1.2% in the third quarter. Wealth Dimensions Group Ltd. now owns 10,714 shares of the information services provider’s stock valued at $1,791,000 after purchasing an additional 128 shares in the last quarter. Senvest Management LLC increased its position in Alphabet by 28.1% in the 3rd quarter. Senvest Management LLC now owns 408,529 shares of the information services provider’s stock worth $68,302,000 after purchasing an additional 89,700 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Alphabet by 23.9% during the 3rd quarter. Larson Financial Group LLC now owns 51,922 shares of the information services provider’s stock worth $8,681,000 after purchasing an additional 10,014 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on GOOG shares. UBS Group boosted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank initiated coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report 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. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value 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 represents a 35.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 1.6 %

NASDAQ GOOG opened at $166.57 on Friday. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The stock has a market cap of $2.04 trillion, a PE ratio of 22.09, a PEG ratio of 1.18 and a beta of 1.04. The firm has a 50-day simple moving average of $169.10 and a 200 day simple moving average of $171.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the company earned $1.55 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared 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 is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 10.61%.

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.