Alphabet Inc. $GOOG Stock Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,094 shares of the information services provider’s stock after selling 2,181 shares during the period. Alphabet accounts for 1.9% of Knights of Columbus Asset Advisors LLC’s holdings, making the stock its 7th largest position. Knights of Columbus Asset Advisors LLC’s holdings in Alphabet were worth $39,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Readystate Asset Management LP bought a new position in shares of Alphabet during the second quarter worth approximately $45,352,000. BlackRock Inc. lifted its holdings in Alphabet by 1.4% during the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock worth $130,704,718,000 after purchasing an additional 5,164,200 shares during the last quarter. State Street Corp lifted its holdings in Alphabet by 2.8% during the 2nd quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock worth $67,458,980,000 after purchasing an additional 5,208,690 shares during the last quarter. Amundi boosted its stake in Alphabet by 22.9% in the 1st quarter. Amundi now owns 21,922,379 shares of the information services provider’s stock valued at $6,288,654,000 after purchasing an additional 4,083,758 shares during the period. Finally, Deutsche Bank AG boosted its stake in Alphabet by 5.6% in the 2nd quarter. Deutsche Bank AG now owns 17,313,729 shares of the information services provider’s stock valued at $6,117,460,000 after purchasing an additional 913,666 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 2.0%

NASDAQ GOOG opened at $290.63 on Thursday. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. Alphabet Inc. has a 1-year low of $271.41 and a 1-year high of $404.47. The company has a 50 day moving average of $326.81 and a 200-day moving average of $336.38. The company has a market cap of $3.57 trillion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.86 and a beta of 1.21.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.01 by ($0.89). The company had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The company’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.87 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 19.74 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s dividend payout ratio (DPR) is 4.59%.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the transaction, the director directly owned 19,076 shares of the company’s stock, valued at $6,494,424.20. The trade was a 0.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 247 shares of company stock valued at $79,238. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of Alphabet in a report on Thursday, October 29th. Barclays reissued an “overweight” rating on shares of Alphabet in a report on Thursday, October 29th. JPMorgan Chase & Co. dropped their target price on Alphabet from $425.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday, October 29th. Susquehanna reissued a “positive” rating and issued a $400.00 target price on shares of Alphabet in a research report on Thursday, October 29th. Finally, Citic Securities upped their price target on shares of Alphabet from $430.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Six analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $413.38.

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About Alphabet

(Free Report)

Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer. Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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