Alphabet Inc. (NASDAQ:GOOG) Stake Trimmed by Callahan Advisors LLC

Callahan Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,594 shares of the information services provider’s stock after selling 1,019 shares during the period. Alphabet makes up approximately 4.0% of Callahan Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Callahan Advisors LLC’s holdings in Alphabet were worth $41,061,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its holdings in Alphabet by 360.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after purchasing an additional 15,848 shares during the period. Quent Capital LLC increased its position in Alphabet by 5.8% during the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after purchasing an additional 1,798 shares during the period. Integrity Financial Corp WA boosted its stake in shares of Alphabet by 25.7% during the first quarter. Integrity Financial Corp WA now owns 8,798 shares of the information services provider’s stock valued at $1,340,000 after purchasing an additional 1,801 shares in the last quarter. Whittier Trust Co. increased its holdings in Alphabet by 1.1% during the first quarter. Whittier Trust Co. now owns 1,328,314 shares of the information services provider’s stock valued at $202,249,000 after buying an additional 14,519 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Alphabet by 3.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 595,799 shares of the information services provider’s stock worth $90,716,000 after buying an additional 17,619 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,052 shares of company stock worth $38,424,448 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 4.0 %

Shares of Alphabet stock opened at $178.33 on Thursday. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. 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 stock has a market cap of $2.20 trillion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04. The firm has a fifty day moving average price of $164.24 and a 200 day moving average price of $170.89.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 EPS. Equities research analysts predict that Alphabet Inc. will post 7.97 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s payout ratio is 10.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Oppenheimer upped their price objective on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.