Alphabet Inc. (NASDAQ:GOOG) Stock Position Decreased by Baron Silver Stevens Financial Advisors LLC

01 Nov 2024, 12:12 by Mitch Edgeman · The Markets Daily

Baron Silver Stevens Financial Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,767 shares of the information services provider’s stock after selling 476 shares during the quarter. Baron Silver Stevens Financial Advisors LLC’s holdings in Alphabet were worth $1,131,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. 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. bought a new stake in Alphabet in the second quarter worth $37,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth $40,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the second quarter valued at about $44,000. Finally, Hoese & Co LLP lifted its position in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. 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 hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents 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 sold 219,744 shares of company stock valued at $35,878,764. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 2.0 %

Shares of GOOG stock opened at $172.69 on Friday. Alphabet Inc. has a one year low of $123.93 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The stock has a fifty day moving average price of $163.71 and a 200 day moving average price of $170.32. The stock has a market cap of $2.13 trillion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.31 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 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.55 EPS. Analysts predict that Alphabet Inc. will post 7.83 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is currently 10.61%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Barclays boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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