Alphabet Inc. (NASDAQ:GOOG) Position Lessened by Patten & Patten Inc. TN

Patten & Patten Inc. TN lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,876 shares of the information services provider’s stock after selling 330 shares during the quarter. Alphabet makes up approximately 1.0% of Patten & Patten Inc. TN’s holdings, making the stock its 29th biggest position. Patten & Patten Inc. TN’s holdings in Alphabet were worth $14,692,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Capital International Investors boosted its stake in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the period. Capital World Investors grew its stake in Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares during the last quarter. Capital Research Global Investors raised its holdings in Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after acquiring an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after acquiring an additional 636,008 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 1.2 %

GOOG opened at $181.97 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.23 trillion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The firm’s 50-day simple moving average is $164.92 and its 200-day simple moving average is $171.27.

Alphabet (NASDAQ:GOOG) last announced its 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 for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company 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 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’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 owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value 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 $5,136,807.48. This trade 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 can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,752 shares of company stock worth $40,156,829. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GOOG shares. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. increased their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price 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. Scotiabank began coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Finally, UBS Group raised their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet 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.