Greenbrier Partners Capital Management LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Greenbrier Partners Capital Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the 3rd quarter, Holdings Channel reports. The fund owned 466,659 shares of the information services provider’s stock after selling 613 shares during the quarter. Alphabet accounts for approximately 6.4% of Greenbrier Partners Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Greenbrier Partners Capital Management LLC’s holdings in Alphabet were worth $84,918,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOG. Abich Financial Wealth Management LLC raised its stake in shares of Alphabet by 9,200.0% in 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 period. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the 2nd quarter valued at approximately $37,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. boosted its position in 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 acquiring an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the 2nd quarter worth approximately $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOG. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group lifted their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Trading Up 0.1 %

Shares of GOOG stock opened at $170.82 on Friday. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a market capitalization of $2.09 trillion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.19 and a beta of 1.04. The firm has a 50 day moving average price of $169.86 and a two-hundred day moving average price of $171.84. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the firm posted $1.55 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is presently 10.61%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. Corporate insiders own 12.99% of the company’s stock.

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.