12,043 Alphabet Inc. $GOOG Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 547,450 shares of the information services provider’s stock after selling 12,043 shares during the period. Alphabet accounts for about 2.9% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its 6th biggest holding. Mesirow Financial Investment Management Inc.’s holdings in Alphabet were worth $186,538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Providence Wealth Advisors LLC grew its stake in Alphabet by 0.3% in the first quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock valued at $3,094,000 after purchasing an additional 29 shares in the last quarter. One Charles Private Wealth Services LLC raised its stake in shares of Alphabet by 0.6% during the 1st quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider’s stock worth $1,390,000 after purchasing an additional 29 shares in the last quarter. Wisconsin Wealth Advisors LLC raised its stake in shares of Alphabet by 1.3% during the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 2,223 shares of the information services provider’s stock worth $785,000 after purchasing an additional 29 shares in the last quarter. Cypress Financial Planning LLC raised its stake in shares of Alphabet by 1.3% during the 3rd quarter. Cypress Financial Planning LLC now owns 2,198 shares of the information services provider’s stock worth $749,000 after purchasing an additional 29 shares in the last quarter. Finally, Johnson Wealth Management LLC raised its stake in shares of Alphabet by 1.7% during the 2nd quarter. Johnson Wealth Management LLC now owns 1,842 shares of the information services provider’s stock worth $651,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 2.0%

Alphabet stock opened at $290.63 on Thursday. The stock has a 50-day simple moving average of $326.81 and a 200 day simple moving average of $336.38. The stock has a market capitalization of $3.57 trillion, a P/E ratio of 15.17, a PEG ratio of 0.86 and a beta of 1.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. Alphabet Inc. has a 52 week low of $271.41 and a 52 week high of $404.47.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.01 by ($0.89). The business had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. Alphabet’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.87 EPS. Analysts expect that Alphabet Inc. will post 19.74 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s payout ratio is currently 4.59%.

Latest Alphabet News

Investors following GOOG have been watching these news items:

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 83 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the transaction, the director directly owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 247 shares of company stock worth $79,238. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GOOG shares. Wedbush started coverage on Alphabet in a report on Thursday, July 16th. They issued an “outperform” rating and a $445.00 price objective for the company. Tigress Financial boosted their target price on shares of Alphabet from $415.00 to $485.00 and gave the stock a “strong-buy” rating in a report on Friday, September 18th. Canaccord Genuity Group set a $450.00 target price on shares of Alphabet in a report on Thursday, July 23rd. Susquehanna reaffirmed a “positive” rating and set a $400.00 price target on shares of Alphabet in a research report on Thursday, October 29th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $350.00 price target on shares of Alphabet in a research note on Thursday, October 29th. Six investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $413.38.

Check Out Our Latest Research Report on Alphabet

Alphabet Company Profile

(Free Report)

Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer. Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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