New World Advisors LLC Sells 1,326 Shares of Alphabet Inc. $GOOG

New World Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,662 shares of the information services provider's stock after selling 1,326 shares during the quarter. Alphabet comprises 0.2% of New World Advisors LLC's portfolio, making the stock its 19th biggest holding. New World Advisors LLC's holdings in Alphabet were worth $1,004,000 as of its most recent filing with the Securities & Exchange Commission.

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A number of other hedge funds also recently made changes to their positions in GOOG. IFS Advisors LLC boosted its position in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after purchasing an additional 120 shares during the period. Robbins Farley lifted its stake in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after buying an additional 61 shares during the period. University of Illinois Foundation purchased a new stake in Alphabet in the 2nd quarter worth $31,000. Finally, Fairman Group LLC raised its holdings in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock valued at $31,000 after acquiring an additional 97 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 3.3%

NASDAQ:GOOG opened at $299.65 on Friday. The company has a market cap of $3.62 trillion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $306.89. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $262.98 and a 200-day simple moving average of $213.90.

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Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for 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 revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.12 EPS. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet's payout ratio is currently 8.28%.

Analyst Ratings Changes

• Alphabet: Buffett's Bet on Its Next Phase of Growth

Several analysts recently issued reports on GOOG shares. Rosenblatt Securities set a $279.00 target price on Alphabet in a research note on Thursday, October 30th. Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a report on Friday, October 24th. Cowen reissued a "buy" rating on shares of Alphabet in a report on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a "strong-buy" rating in a research report on Tuesday, October 7th. Finally, Cantor Fitzgerald set a $310.00 price target on shares of Alphabet and gave the company a "neutral" rating in a report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $324.81.

Read Our Latest Report on GOOG

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the transaction, the chief accounting officer owned 11,739 shares of the company's stock, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director owned 18,004 shares of the company's stock, valued at $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,952 shares of company stock worth $58,896,009 over the last three months. Company 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.

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