Alphabet Inc. (NASDAQ:GOOG) Shares Sold by J. Stern & Co. LLP

J. Stern & Co. LLP reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 362,413 shares of the information services provider’s stock after selling 1,009 shares during the quarter. Alphabet makes up about 7.9% of J. Stern & Co. LLP’s portfolio, making the stock its 3rd biggest holding. J. Stern & Co. LLP’s holdings in Alphabet were worth $66,474,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in Alphabet in the 2nd quarter valued at about $37,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet during the fourth quarter worth approximately $34,000. Slocum Gordon & Co LLP acquired a new position in shares of Alphabet in the second quarter valued at approximately $44,000. Hoese & Co LLP increased its stake in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $48,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 29,324 shares of the company’s stock, valued at $4,838,460. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock worth $33,964,256 in the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GOOG shares. Oppenheimer upped their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $164.64 on Monday. The firm has a 50 day moving average of $166.26 and a 200-day moving average of $167.26. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. 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 market capitalization of $2.03 trillion, a PE ratio of 25.25, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating 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 business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. 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 was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 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.