Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Navalign LLC

Navalign LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,987 shares of the information services provider’s stock after selling 93 shares during the quarter. Navalign LLC’s holdings in Alphabet were worth $1,465,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Alphabet in the 4th quarter valued at about $8,232,000. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its holdings in Alphabet by 964.3% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 482,698 shares of the information services provider’s stock valued at $68,027,000 after acquiring an additional 437,345 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in Alphabet by 15.5% in the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after acquiring an additional 3,924 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Alphabet by 2.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,980,721 shares of the information services provider’s stock valued at $279,143,000 after acquiring an additional 48,640 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its holdings in Alphabet by 5.3% in the 4th quarter. Natixis Advisors L.P. now owns 2,675,163 shares of the information services provider’s stock valued at $377,010,000 after acquiring an additional 135,028 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Insiders have sold 179,065 shares of company stock worth $31,025,543 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $165.11 on Friday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The firm has a market cap of $2.03 trillion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.22 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. The business has a fifty day moving average of $175.10 and a 200-day moving average of $165.12.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the business earned $1.44 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 7.63 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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 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.