Corient Private Wealth LLC Sells 205,351 Shares of Alphabet Inc. $GOOG

Corient Private Wealth LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,922,311 shares of the information services provider’s stock after selling 205,351 shares during the period. Alphabet makes up 1.2% of Corient Private Wealth LLC’s holdings, making the stock its 14th biggest holding. Corient Private Wealth LLC’s holdings in Alphabet were worth $873,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TradeWell Securities LLC. raised its stake in shares of Alphabet by 15.7% in the second quarter. TradeWell Securities LLC. now owns 14,090 shares of the information services provider’s stock worth $2,499,000 after acquiring an additional 1,917 shares during the last quarter. National Wealth Management Group LLC bought a new position in Alphabet in the 2nd quarter worth approximately $219,000. CacheTech Inc. raised its position in Alphabet by 2.2% in the 2nd quarter. CacheTech Inc. now owns 2,332 shares of the information services provider’s stock worth $414,000 after purchasing an additional 50 shares during the last quarter. Adams Wealth Management lifted its holdings in Alphabet by 2.2% during the 2nd quarter. Adams Wealth Management now owns 2,332 shares of the information services provider’s stock worth $414,000 after buying an additional 50 shares in the last quarter. Finally, Momentum Wealth Planning LLC bought a new position in Alphabet in the 2nd quarter valued at $1,767,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $309.32 on Tuesday. 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 firm has a market capitalization of $3.73 trillion, a P/E ratio of 30.50, a PEG ratio of 1.80 and a beta of 1.07. The business has a 50-day moving average of $284.91 and a 200-day moving average of $231.69. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the firm earned $2.12 EPS. Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Analyst Ratings Changes

GOOG has been the subject of a number of recent research reports. BMO Capital Markets restated an “outperform” rating and set a $340.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Sanford C. Bernstein boosted their price objective on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. KeyCorp restated an “overweight” rating and set a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Guggenheim reiterated a “buy” rating and set a $375.00 price target on shares of Alphabet in a research report on Monday, December 1st. Finally, Mizuho set a $325.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $313.04.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the transaction, the chief accounting officer owned 11,740 shares in the company, valued at $3,721,580. This trade represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 225,528 shares of company stock worth $61,296,884 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

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.