Macroview Investment Management LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Macroview Investment Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,572 shares of the information services provider’s stock after selling 138 shares during the period. Macroview Investment Management LLC’s holdings in Alphabet were worth $288,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GOOG. First Bancorp Inc ME boosted its holdings in Alphabet by 11.4% during the second quarter. First Bancorp Inc ME now owns 6,395 shares of the information services provider’s stock worth $1,173,000 after purchasing an additional 652 shares during the last quarter. Burns J W & Co. Inc. NY boosted its stake in shares of Alphabet by 0.4% in the 2nd quarter. Burns J W & Co. Inc. NY now owns 143,035 shares of the information services provider’s stock worth $26,236,000 after buying an additional 558 shares during the last quarter. Busey Bank grew its holdings in shares of Alphabet by 0.8% in the second quarter. Busey Bank now owns 574,148 shares of the information services provider’s stock valued at $105,310,000 after acquiring an additional 4,657 shares in the last quarter. TFC Financial Management Inc. grew its holdings in shares of Alphabet by 7.7% in the second quarter. TFC Financial Management Inc. now owns 5,789 shares of the information services provider’s stock valued at $1,062,000 after acquiring an additional 414 shares in the last quarter. Finally, Exchange Capital Management Inc. increased its position in shares of Alphabet by 1.1% during the second quarter. Exchange Capital Management Inc. now owns 6,161 shares of the information services provider’s stock valued at $1,130,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GOOG shares. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. TD Cowen boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Oppenheimer raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $182.86.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. The disclosure for this sale can be found here. Insiders have sold a total of 179,065 shares of company stock worth $31,025,543 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.3 %

Shares of GOOG opened at $165.49 on Friday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The business has a 50-day moving average of $176.56 and a 200 day moving average of $164.35. The firm has a market cap of $2.05 trillion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company earned $1.44 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s payout ratio is 12.27%.

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.