Northside Capital Management LLC Sells 2,561 Shares of Alphabet Inc. $GOOG

Northside Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 31,136 shares of the information services provider’s stock after selling 2,561 shares during the quarter. Northside Capital Management LLC’s holdings in Alphabet were worth $7,583,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFS Advisors LLC grew its stake in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the last quarter. Fairman Group LLC lifted its stake in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, University of Illinois Foundation acquired a new stake in shares of Alphabet in the 2nd quarter valued at $31,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the sale, the director directly owned 18,104 shares of the company’s stock, valued at $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $312.30, for a total transaction of $867,569.40. Following the sale, the chief accounting officer owned 8,962 shares in the company, valued at $2,798,832.60. The trade was a 23.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 228,906 shares of company stock valued at $63,984,117. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on GOOG shares. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Wednesday. TD Cowen boosted their target price on shares of Alphabet from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Sanford C. Bernstein raised their price objective on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, Barclays lifted their target price on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average target price of $313.04.

Alphabet Stock Performance

GOOG stock opened at $303.75 on Friday. The firm has a market cap of $3.67 trillion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 1.73 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $288.40 and a 200-day moving average price of $233.60. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $328.67.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

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.