Alphabet Inc. (NASDAQ:GOOG) Shares Sold by ORG Partners LLC

by · The Cerbat Gem

ORG Partners LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 37.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital International Investors grew its stake in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares in the last quarter. Capital World Investors boosted its position in shares of Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after acquiring an additional 979,083 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after acquiring an additional 684,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after acquiring an additional 636,008 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. 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, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock worth $35,644,136 in the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Oppenheimer lowered their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, UBS Group reduced their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Check Out Our Latest Analysis on GOOG

Alphabet Stock Performance

Shares of GOOG stock traded up $1.88 during trading hours on Monday, reaching $166.40. 3,132,868 shares of the company’s stock were exchanged, compared to its average volume of 19,709,313. The company has a market cap of $2.06 trillion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company’s 50 day moving average is $162.81 and its two-hundred day moving average is $169.37. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

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

About Alphabet

(Free Report)

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.

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