Okabena Investment Services Inc. Has $3.50 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

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

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in Alphabet in the 1st quarter valued at about $1,378,708,000. Assenagon Asset Management S.A. raised its stake in shares of Alphabet by 65.9% in the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after purchasing an additional 2,500,621 shares during the last quarter. Vima LLC raised its stake in shares of Alphabet by 178,253.1% in the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares during the last quarter. Granite Bay Wealth Management LLC lifted its holdings in shares of Alphabet by 6,610.0% in the second quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock valued at $301,312,000 after purchasing an additional 1,742,794 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Alphabet by 27.8% during the second quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock valued at $1,375,512,000 after buying an additional 1,632,691 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GOOG shares. Scotiabank began 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. Barclays upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Five investment 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. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 2.09 % 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 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 1.6 %

GOOG stock opened at $166.57 on Friday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The stock has a fifty day moving average of $169.10 and a 200-day moving average of $171.86. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.18 and a beta of 1.04. 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 (NASDAQ:GOOG) last issued its earnings results 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. 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 analyst estimates of $86.39 billion. During the same quarter last year, the business earned $1.55 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is 10.61%.

About Alphabet

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.