Dumont & Blake Investment Advisors LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Dumont & Blake Investment Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 50.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,008 shares of the information services provider’s stock after selling 19,424 shares during the quarter. Alphabet comprises about 0.8% of Dumont & Blake Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Dumont & Blake Investment Advisors LLC’s holdings in Alphabet were worth $3,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the second quarter worth $37,000. HWG Holdings LP bought a new position in shares of Alphabet during the second quarter valued at $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the second quarter valued at $44,000. Finally, Hoese & Co LLP increased its holdings in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $166.99 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.27 and a beta of 1.04. The company’s 50 day moving average is $163.35 and its two-hundred day moving average is $170.04.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Scotiabank began coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Oppenheimer cut their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.90.

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.