Independent Solutions Wealth Management LLC Sells 245 Shares of Alphabet Inc. (NASDAQ:GOOG)

Independent Solutions Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,083 shares of the information services provider’s stock after selling 245 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Alphabet were worth $1,853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisors Management Group Inc. ADV boosted its position in Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after buying an additional 58 shares during the last quarter. Sunburst Financial Group LLC lifted its stake in Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 60 shares during the period. Johnson Financial Group LLC boosted its holdings in shares of Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after acquiring an additional 60 shares during the last quarter. Phillips Financial Management LLC increased its stake in shares of Alphabet by 1.6% in the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after acquiring an additional 61 shares during the period. Finally, Goodman Advisory Group LLC raised its holdings in shares of Alphabet by 2.3% during the third quarter. Goodman Advisory Group LLC now owns 2,674 shares of the information services provider’s stock worth $447,000 after purchasing an additional 61 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Canaccord Genuity Group lifted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Five research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now owns 27,824 shares of the company’s stock, valued at $4,590,960. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,957 shares of company stock valued at $31,358,687. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 0.7 %

Shares of GOOG stock traded up $1.40 during trading hours on Thursday, hitting $191.55. The company had a trading volume of 13,469,275 shares, compared to its average volume of 19,736,434. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s fifty day moving average is $175.04 and its 200 day moving average is $172.61. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The stock has a market capitalization of $2.34 trillion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 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.