ORG Partners LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

ORG Partners LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 37.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,571 shares of the information services provider’s stock after selling 12,289 shares during the quarter. ORG Partners LLC’s holdings in Alphabet were worth $3,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Creekmur Asset Management LLC acquired a new stake in Alphabet during the fourth quarter worth about $92,000. Vima LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $158,000. Northwest Bank & Trust Co acquired a new stake in Alphabet in the fourth quarter valued at approximately $3,166,000. Richardson Financial Services Inc. acquired a new stake in Alphabet in the fourth quarter valued at approximately $34,000. Finally, Processus Wealth & Capital Management LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $2,506,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction 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 owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock worth $35,644,136 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.1 %

Alphabet stock traded up $1.88 during trading on Monday, reaching $166.40. 3,132,868 shares of the company were exchanged, compared to its average volume of 19,709,313. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a market capitalization of $2.06 trillion, a P/E ratio of 25.59, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock’s 50 day simple moving average is $162.81 and its two-hundred day simple moving average is $169.37.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the business posted $1.44 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Scotiabank began coverage on Alphabet in a report on Friday. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Finally, Pivotal Research began coverage on Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

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.