Frisch Financial Group Inc. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Frisch Financial Group Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,726 shares of the information services provider’s stock after selling 691 shares during the period. Alphabet makes up 0.6% of Frisch Financial Group Inc.’s investment portfolio, making the stock its 29th largest holding. Frisch Financial Group Inc.’s holdings in Alphabet were worth $2,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Investment Advisory Services Inc. TX ADV boosted its stake in shares of Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after buying an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV increased its position in Alphabet by 2.0% during 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 acquiring an additional 58 shares during the last quarter. Montecito Bank & Trust increased its position in Alphabet by 0.4% during the second quarter. Montecito Bank & Trust now owns 16,790 shares of the information services provider’s stock valued at $3,080,000 after acquiring an additional 60 shares during the last quarter. Sunburst Financial Group LLC lifted its holdings in Alphabet by 2.1% in the third 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. Finally, Johnson Financial Group LLC boosted its position in Alphabet by 2.6% in the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GOOG shares. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Jefferies Financial Group upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. 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 stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

GOOG stock opened at $177.10 on Tuesday. Alphabet Inc. has a 52 week low of $131.06 and a 52 week high of $193.31. The firm has a market capitalization of $2.17 trillion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The company has a fifty day simple moving average of $171.26 and a two-hundred day simple moving average of $171.73. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the firm earned $1.55 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts anticipate 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 will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,789 shares of company stock worth $27,374,143 over the last three months. 12.99% of the stock is owned by insiders.

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.