Atlas Wealth LLC Sells 370 Shares of Alphabet Inc. (NASDAQ:GOOG)

Atlas Wealth LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 46,961 shares of the information services provider’s stock after selling 370 shares during the period. Alphabet comprises approximately 3.4% of Atlas Wealth LLC’s holdings, making the stock its 9th biggest position. Atlas Wealth LLC’s holdings in Alphabet were worth $7,851,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GOOG. Abich Financial Wealth Management LLC lifted its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the 2nd quarter worth about $37,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter valued at about $40,000. Slocum Gordon & Co LLP acquired a new position in Alphabet during the 2nd quarter valued at about $44,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. The trade was a 1.04 % 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, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,673,866 over the last ninety days. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOG. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Citigroup upped their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Trading Down 0.2 %

Shares of NASDAQ GOOG opened at $170.49 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.09 trillion, a PE ratio of 22.61, a P/E/G ratio of 1.19 and a beta of 1.04. The company has a 50-day moving average of $169.98 and a two-hundred day moving average of $171.82. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during 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 period last year, the firm earned $1.55 EPS. As a group, equities analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

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.