Thrive Wealth Management LLC Decreases Stock Holdings in Alphabet Inc. $GOOG

Thrive Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 19.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,527 shares of the information services provider’s stock after selling 6,634 shares during the quarter. Alphabet makes up about 1.0% of Thrive Wealth Management LLC’s holdings, making the stock its 16th largest position. Thrive Wealth Management LLC’s holdings in Alphabet were worth $6,704,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. RDA Financial Network lifted its holdings in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after acquiring an additional 2,304 shares during the period. American National Bank of Texas purchased a new position in shares of Alphabet during the third quarter worth approximately $900,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Alphabet by 3.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock valued at $206,542,000 after acquiring an additional 42,028 shares during the period. Finally, Oldfather Financial Services LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $213,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GOOG shares. Raymond James Financial set a $275.00 price target on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. TD Cowen boosted their price objective on shares of Alphabet from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Cowen restated a “buy” rating on shares of Alphabet in a research report on Friday, December 12th. BNP Paribas began coverage on shares of Alphabet in a report on Monday, November 24th. They issued an “outperform” rating on the stock. Finally, Sanford C. Bernstein boosted their price target on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $313.04.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 228,906 shares of company stock valued at $63,984,117. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $298.06 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67. The firm has a market capitalization of $3.60 trillion, a P/E ratio of 29.39, a PEG ratio of 1.78 and a beta of 1.07. The company’s fifty day moving average is $287.17 and its two-hundred day moving average is $233.11.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating 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 firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter last year, the business earned $2.12 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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