Wealthspire Advisors LLC Sells 1,702 Shares of Alphabet Inc. $GOOG

Wealthspire Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,947 shares of the information services provider’s stock after selling 1,702 shares during the quarter. Wealthspire Advisors LLC’s holdings in Alphabet were worth $32,453,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Oberndorf William E bought a new position in Alphabet in the second quarter valued at approximately $9,095,000. Cordatus Wealth Management LLC boosted its holdings in shares of Alphabet by 8.9% in the 2nd quarter. Cordatus Wealth Management LLC now owns 50,233 shares of the information services provider’s stock valued at $8,911,000 after purchasing an additional 4,103 shares in the last quarter. Senvest Management LLC bought a new position in shares of Alphabet in the 2nd quarter valued at $1,774,000. Wescott Financial Advisory Group LLC raised its holdings in shares of Alphabet by 3.9% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 2,564 shares of the information services provider’s stock worth $455,000 after buying an additional 97 shares in the last quarter. Finally, Purus Wealth Management LLC lifted its position in shares of Alphabet by 8.9% during the 2nd quarter. Purus Wealth Management LLC now owns 2,105 shares of the information services provider’s stock worth $373,000 after buying an additional 172 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GOOG shares. JPMorgan Chase & Co. lifted their target price on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Bank of America upped their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Mizuho set a $325.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Robert W. Baird increased their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $324.81.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 189,896 shares of company stock valued at $47,653,637. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 0.2%

Shares of Alphabet stock opened at $284.96 on Wednesday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $294.52. The firm’s 50 day moving average price is $259.76 and its 200-day moving average price is $211.86. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.44 trillion, a P/E ratio of 28.10, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $2.12 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Alphabet Company 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.