Nwam LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

Nwam LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,115 shares of the information services provider’s stock after selling 143 shares during the quarter. Alphabet accounts for 0.7% of Nwam LLC’s portfolio, making the stock its 25th biggest holding. Nwam LLC’s holdings in Alphabet were worth $12,224,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Twelve Points Wealth Management LLC increased its stake in Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after acquiring an additional 55 shares during the last quarter. PCG Wealth Advisors LLC increased its stake in Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after acquiring an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV increased its stake in 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 acquiring an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV increased its stake in Alphabet by 2.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares during the last quarter. Finally, Shira Ridge Wealth Management increased its stake in Alphabet by 0.4% in the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 1.3 %

Shares of NASDAQ GOOG opened at $167.05 on Friday. 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 capitalization of $2.04 trillion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31. The business has a fifty day moving average price of $168.93 and a 200 day moving average price of $171.90.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm 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 firm’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 EPS. Equities research analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on GOOG. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays boosted their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer boosted 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. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Finally, DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, 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 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 8.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. This represents a 35.31 % 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 valued at $34,673,866 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.