Counterweight Ventures LLC Sells 161 Shares of Alphabet Inc. (NASDAQ:GOOG)

Counterweight Ventures LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,021 shares of the information services provider’s stock after selling 161 shares during the quarter. Alphabet accounts for about 3.1% of Counterweight Ventures LLC’s investment portfolio, making the stock its 8th largest holding. Counterweight Ventures LLC’s holdings in Alphabet were worth $4,350,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC lifted its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet during the 2nd quarter worth $37,000. HWG Holdings LP acquired a new position in shares of Alphabet in the second quarter valued at about $40,000. Sanctuary Wealth Management L.L.C. raised its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP bought a new stake in Alphabet in the 2nd quarter valued at about $44,000. 27.26% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,795 shares of company stock worth $34,471,141. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOG. Citigroup lifted their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer upped 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. Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Trading Down 0.8 %

Shares of GOOG stock opened at $175.34 on Tuesday. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The stock’s fifty day simple moving average is $167.56 and its 200 day simple moving average is $171.80. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.15 trillion, a P/E ratio of 23.45, a P/E/G ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Alphabet Company 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.