Alphabet Inc. (NASDAQ:GOOG) is Buckingham Capital Management Inc.’s 10th Largest Position

Buckingham Capital Management Inc. cut its position in Alphabet Inc. (NASDAQ:GOOG) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,078 shares of the information services provider’s stock after selling 3,121 shares during the period. Alphabet comprises 2.4% of Buckingham Capital Management Inc.’s portfolio, making the stock its 10th largest holding. Buckingham Capital Management Inc.’s holdings in Alphabet were worth $20,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its position in Alphabet by 360.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after purchasing an additional 15,848 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after acquiring an additional 1,798 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Alphabet by 19.0% in the 1st quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after acquiring an additional 13,756 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Alphabet by 3.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 71,665 shares of the information services provider’s stock worth $10,912,000 after acquiring an additional 2,356 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its holdings in shares of Alphabet by 4.7% in the 1st quarter. Verus Capital Partners LLC now owns 24,459 shares of the information services provider’s stock worth $3,724,000 after acquiring an additional 1,107 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOG has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company raised their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,752 shares of company stock worth $40,156,829 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $181.97 on Tuesday. The firm has a market cap of $2.23 trillion, a PE ratio of 24.13, a PEG ratio of 1.26 and a beta of 1.04. The firm has a fifty day moving average of $164.92 and a 200 day moving average of $171.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s payout ratio is currently 10.61%.

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.