NorthRock Partners LLC Has $2.34 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

by · The Cerbat Gem

NorthRock Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 44.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,966 shares of the information services provider’s stock after selling 11,377 shares during the quarter. NorthRock Partners LLC’s holdings in Alphabet were worth $2,335,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Colonial River Wealth Management LLC increased its holdings in shares of Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in Alphabet by 4.6% in the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after purchasing an additional 498 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Alphabet by 4.6% during the third quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock valued at $439,405,000 after purchasing an additional 115,716 shares in the last quarter. TSA Wealth Managment LLC acquired a new stake in shares of Alphabet during the second quarter valued at about $206,000. Finally, RAM Investment Partners LLC increased its stake in shares of Alphabet by 6.0% in the second quarter. RAM Investment Partners LLC now owns 19,615 shares of the information services provider’s stock valued at $3,598,000 after buying an additional 1,119 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Jefferies Financial Group increased their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank started 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, UBS Group upped their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Check Out Our Latest Analysis on GOOG

Alphabet Price Performance

Shares of GOOG opened at $171.41 on Wednesday. The business’s fifty day moving average is $163.97 and its 200 day moving average is $170.83. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. 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 stock has a market cap of $2.11 trillion, a P/E ratio of 22.73, a P/E/G ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the sale, the director now owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,552 shares of company stock valued at $34,433,848 over the last ninety days. 12.99% of the stock is currently owned by insiders.

About Alphabet

(Free Report)

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.

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