Okabena Investment Services Inc. Sells 3,867 Shares of Alphabet Inc. (NASDAQ:GOOG)

Okabena Investment Services Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,906 shares of the information services provider’s stock after selling 3,867 shares during the period. Alphabet makes up about 1.0% of Okabena Investment Services Inc.’s portfolio, making the stock its 22nd biggest holding. Okabena Investment Services Inc.’s holdings in Alphabet were worth $3,495,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOG. China Universal Asset Management Co. Ltd. increased its stake 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 acquiring an additional 15,848 shares during the period. Quent Capital LLC raised its stake in Alphabet by 5.8% in the first 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 in the last quarter. Advisors Asset Management Inc. lifted its position in Alphabet by 27.1% during the first quarter. Advisors Asset Management Inc. now owns 10,645 shares of the information services provider’s stock worth $1,621,000 after purchasing an additional 2,269 shares during the period. Lavaca Capital LLC grew its stake in Alphabet by 8.7% during the first quarter. Lavaca Capital LLC now owns 12,280 shares of the information services provider’s stock worth $1,870,000 after buying an additional 980 shares in the last quarter. Finally, Waverly Advisors LLC grew its stake in Alphabet by 75.5% during the first quarter. Waverly Advisors LLC now owns 56,458 shares of the information services provider’s stock worth $8,596,000 after buying an additional 24,290 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research raised their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Citigroup upped their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.6 %

Shares of NASDAQ GOOG opened at $166.57 on Friday. The stock has a market cap of $2.04 trillion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 1.18 and a beta of 1.04. The firm has a 50 day moving average price of $169.10 and a two-hundred day moving average price of $171.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.