Alphabet Inc. $GOOG Shares Sold by Inscription Capital LLC

Inscription Capital LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 17.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 49,835 shares of the information services provider’s stock after selling 10,696 shares during the quarter. Alphabet comprises approximately 1.9% of Inscription Capital LLC’s holdings, making the stock its 8th biggest position. Inscription Capital LLC’s holdings in Alphabet were worth $16,981,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Quest 10 Wealth Builders Inc. boosted its holdings in Alphabet by 33.2% during the third quarter. Quest 10 Wealth Builders Inc. now owns 361 shares of the information services provider’s stock worth $123,000 after buying an additional 90 shares in the last quarter. Wealth Dimensions Group Ltd. raised its position in shares of Alphabet by 12.7% in the third quarter. Wealth Dimensions Group Ltd. now owns 11,113 shares of the information services provider’s stock worth $3,787,000 after acquiring an additional 1,253 shares during the period. Collaborative Fund Advisors LLC boosted its stake in shares of Alphabet by 158.5% during the 3rd quarter. Collaborative Fund Advisors LLC now owns 4,805 shares of the information services provider’s stock worth $1,637,000 after acquiring an additional 2,946 shares in the last quarter. Bfsg LLC boosted its stake in shares of Alphabet by 3.7% during the 3rd quarter. Bfsg LLC now owns 49,662 shares of the information services provider’s stock worth $16,922,000 after acquiring an additional 1,750 shares in the last quarter. Finally, Strategent Financial LLC boosted its stake in shares of Alphabet by 8.1% during the 3rd quarter. Strategent Financial LLC now owns 997 shares of the information services provider’s stock worth $340,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 83 shares of the 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 completion of the transaction, the director owned 19,076 shares of the company’s stock, valued at $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 247 shares of company stock worth $79,238. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 0.8%

GOOG stock opened at $283.93 on Friday. Alphabet Inc. has a 52 week low of $271.41 and a 52 week high of $404.47. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $329.78 and a 200-day simple moving average of $337.01. The stock has a market capitalization of $3.47 trillion, a P/E ratio of 14.82, a P/E/G ratio of 0.86 and a beta of 1.21.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.89). The company had revenue of $127.58 billion during the quarter, compared to analysts’ expectations of $127.97 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.87 earnings per share. Equities analysts forecast that Alphabet Inc. will post 19.80 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 14th. Shareholders 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 yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s payout ratio is 4.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GOOG shares. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Alphabet in a research report on Thursday, October 29th. Truist Financial set a $410.00 price target on Alphabet in a research report on Thursday, October 29th. KeyCorp reissued an “overweight” rating and issued a $385.00 price objective on shares of Alphabet in a report on Thursday, October 29th. Zacks Research cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, August 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $413.38.

Read Our Latest Report on GOOG

About Alphabet

(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.

See Also

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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