Alphabet Inc. $GOOG is Montag A & Associates Inc.’s 7th Largest Position

Montag A & Associates Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.7% during the second quarter, Holdings Channel.com reports. The firm owned 219,969 shares of the information services provider’s stock after selling 40,830 shares during the period. Alphabet makes up 1.9% of Montag A & Associates Inc.’s holdings, making the stock its 7th biggest holding. Montag A & Associates Inc.’s holdings in Alphabet were worth $39,020,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. REDW Wealth LLC lifted its position in Alphabet by 2.3% in the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after buying an additional 54 shares during the last quarter. ACT Advisors LLC. increased its position in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the last quarter. Moser Wealth Advisors LLC raised its stake in shares of Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after acquiring an additional 55 shares during the period. LongView Wealth Management raised its stake in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares during the period. Finally, Kooman & Associates lifted its holdings in shares of Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Pivotal Research lifted their target price on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Wolfe Research increased their target price on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $330.00 target price on shares of Alphabet in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Stock Up 0.4%

Alphabet stock opened at $291.74 on Wednesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $292.34. The stock’s fifty day simple moving average is $254.94 and its 200-day simple moving average is $207.64. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.53 trillion, a P/E ratio of 28.77, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same period last year, the business posted $2.12 earnings per share. Alphabet’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc. will post 8.89 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 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

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.