Goldstein Advisors LLC Sells 169 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Goldstein Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,982 shares of the information services provider’s stock after selling 169 shares during the period. Goldstein Advisors LLC’s holdings in Alphabet were worth $1,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in Alphabet in the 4th quarter worth $1,328,000. Watershed Asset Management L.L.C. lifted its position in shares of Alphabet by 32.5% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,500 shares of the information services provider’s stock worth $2,165,000 after buying an additional 3,800 shares in the last quarter. JMG Financial Group Ltd. lifted its position in shares of Alphabet by 2.6% in the fourth quarter. JMG Financial Group Ltd. now owns 6,400 shares of the information services provider’s stock worth $894,000 after buying an additional 160 shares in the last quarter. Hartline Investment Corp boosted its stake in Alphabet by 3.6% during the fourth quarter. Hartline Investment Corp now owns 234,667 shares of the information services provider’s stock valued at $32,781,000 after buying an additional 8,231 shares during the last quarter. Finally, Wynn Capital LLC purchased a new position in Alphabet during the 4th quarter valued at approximately $237,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $163.38 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $173.77 and a two-hundred day simple moving average of $163.54. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. Insiders have sold a total of 156,565 shares of company stock valued at $26,823,893 over the last ninety days. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. TD Securities increased their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. BMO Capital Markets restated an “outperform” rating and set a $222.00 target price on shares of Alphabet in a research report on Tuesday, August 6th. Finally, Mizuho lifted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.74.

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.