Hudock Inc. Sells 290 Shares of Alphabet Inc. $GOOG

Hudock Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,597 shares of the information services provider’s stock after selling 290 shares during the quarter. Hudock Inc.’s holdings in Alphabet were worth $1,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC increased its stake in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Alphabet by 0.4% during the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock valued at $19,022,926,000 after purchasing an additional 441,177 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on GOOG shares. Rosenblatt Securities set a $279.00 target price on Alphabet in a research report on Thursday, October 30th. Oppenheimer raised their price objective on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Bank of America upped their target price on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. DA Davidson set a $825.00 price target on shares of Alphabet in a research report on Monday, October 27th. Finally, Wolfe Research boosted their price target on shares of Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $324.81.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the sale, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. This trade represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $287.43 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50-day moving average of $256.07 and a 200-day moving average of $208.20. Alphabet Inc. has a one year low of $142.66 and a one year high of $292.36. The company has a market cap of $3.47 trillion, a P/E ratio of 28.35, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) 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 net margin of 32.23% and a return on equity of 36.08%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.12 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

About Alphabet

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.