Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Canton Hathaway LLC

Canton Hathaway LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,640 shares of the information services provider’s stock after selling 100 shares during the quarter. Alphabet comprises 1.4% of Canton Hathaway LLC’s portfolio, making the stock its 7th largest position. Canton Hathaway LLC’s holdings in Alphabet were worth $5,624,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. 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 acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the second quarter valued at $40,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet during the 2nd quarter worth about $44,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.8 %

GOOG opened at $167.90 on Monday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. 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 company’s 50-day moving average is $169.10 and its 200 day moving average is $171.87. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 22.09, a PEG ratio of 1.16 and a beta of 1.04.

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. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business earned $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock worth $34,673,866. Company 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.