Hardy Reed LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Hardy Reed LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 33,318 shares of the information services provider’s stock after selling 83 shares during the quarter. Alphabet accounts for approximately 0.5% of Hardy Reed LLC’s portfolio, making the stock its 29th largest holding. Hardy Reed LLC’s holdings in Alphabet were worth $5,570,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC increased its stake in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the second quarter worth $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the second quarter valued at $40,000. Sanctuary Wealth Management L.L.C. lifted its position in shares of 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 valued at $42,000 after buying 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 $44,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $170.62 on Wednesday. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The company has a fifty day moving average of $169.51 and a 200-day moving average of $171.86. The company has a market capitalization of $2.09 trillion, a P/E ratio of 22.63, a P/E/G ratio of 1.18 and a beta of 1.04. 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 (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GOOG shares. UBS Group boosted their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.