Quadrant Private Wealth Management LLC Sells 346 Shares of Alphabet Inc. $GOOG

Quadrant Private Wealth Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the second quarter, HoldingsChannel reports. The fund owned 49,404 shares of the information services provider’s stock after selling 346 shares during the period. Alphabet makes up 1.8% of Quadrant Private Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. Quadrant Private Wealth Management LLC’s holdings in Alphabet were worth $8,764,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. IFS Advisors LLC boosted its position in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley lifted its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its stake in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the last quarter. Fairman Group LLC boosted its holdings in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent research reports. Sanford C. Bernstein boosted their price objective on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Barclays lifted their target price on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Oppenheimer increased their price target on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Pivotal Research boosted their price objective on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley upped their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Down 2.0%

Shares of Alphabet stock opened at $279.70 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The company has a market cap of $3.38 trillion, a P/E ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05. The company’s fifty day simple moving average is $251.81 and its two-hundred day simple moving average is $205.49.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period last year, the company posted $2.12 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 222,396 shares of company stock worth $54,105,275. Company insiders own 12.99% of the company’s stock.

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.