Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,250 shares of the information services provider’s stock after selling 195 shares during the quarter. Alphabet comprises 1.1% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 19th biggest holding. Pin Oak Investment Advisors Inc.’s holdings in Alphabet were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC increased its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter valued at approximately $37,000. HWG Holdings LP acquired a new position in Alphabet during the 2nd quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. raised its stake in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the 2nd quarter valued at approximately $44,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.1 %

Shares of NASDAQ GOOG opened at $170.82 on Thursday. The stock has a market capitalization of $2.09 trillion, a PE ratio of 22.66, a P/E/G ratio of 1.18 and a beta of 1.04. 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 fifty day moving average of $169.71 and a 200-day moving average of $171.85. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Oppenheimer increased their price objective on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Finally, Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.