Dudley Capital Management LLC Trims Position in Alphabet Inc. (NASDAQ:GOOG)

Dudley Capital Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,640 shares of the information services provider’s stock after selling 480 shares during the quarter. Alphabet makes up 1.4% of Dudley Capital Management LLC’s portfolio, making the stock its 17th largest position. Dudley Capital Management LLC’s holdings in Alphabet were worth $2,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC boosted its holdings in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the 2nd quarter worth $37,000. HWG Holdings LP bought a new position in shares of Alphabet during the 2nd quarter worth $40,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet during the second quarter valued at $44,000. Finally, Hoese & Co LLP raised its holdings in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOG. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Five 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Performance

GOOG opened at $182.28 on Friday. The company has a market cap of $2.24 trillion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $164.24 and its 200-day moving average price is $170.89. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the business posted $1.55 EPS. Alphabet’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 7.97 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given 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 yield of 0.44%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,552 shares of company stock worth $40,287,253. 12.99% of the stock is currently 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.